The US military is paying RTX's Raytheon big for more Tomahawk missiles. It burned through many of them fighting Iran.
The US military has awarded a $22.9 billion contract to RTX's Raytheon to significantly increase the production of Tomahawk cruise missiles. This move follows the heavy expenditure of these munitions during recent conflicts in the Middle East.
Why it matters
It highlights the strain on US defense stockpiles due to ongoing geopolitical conflicts and the massive industrial investment required to maintain military readiness.
A US Navy destroyer launches a Tomahawk missile against Iran. US Navy photo The US awarded a massive contract to defense firm RTX to boost Tomahawk missile production. The $22.9 billion contract will see annual production rise to more than 1,000 missiles. The announcement comes after US forces in the Middle East launched numerous Tomahawks in strikes against Iran. The US military has awarded a massive contract to dramatically ramp up the production of Tomahawk cruise missiles , the Pentagon said on Monday, after burning through hundreds of these long-range munitions during the Iran conflict. The $22.9 billion contract awarded to US defense contractor RTX's Raytheon follows an earlier framework agreement announced in February and will increase annual production to more than 1,000 Tomahawk missiles over a seven-year period.
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