Pentagon Signs $24.4 Billion Contract to Accelerate Missile Production
What Happened
The US Pentagon has awarded Raytheon a $24.4 billion contract to accelerate production of SM-6 missiles, a key weapon used for anti-air, anti-surface and missile defense operations. The five-year agreement, with two optional extension years, comes as Washington seeks to replenish munitions stocks depleted during the Iran conflict and address supply-chain bottlenecks in missile production.
Key Takeaways
The deal highlights growing US concerns over defense readiness and missile inventory levels, while supporting efforts to expand manufacturing capacity and strengthen critical defense supply chains.