Raytheon wins $20.7B multi-year AMRAAM missile contract

Raytheon, a business unit of RTX (NYSE: RTX), has been awarded a contract valued at up to $20.7 billion to produce AMRAAM missiles, according to a company press release.

The five-year agreement, which includes two option years, was awarded by the Department of Defense as part of its Arsenal of Freedom initiative. The contract follows an earlier agreement announced in February 2026 that established a baseline of at least 1,900 AMRAAM missiles produced annually.

RTX says it nearly doubled AMRAAM production in 2025 compared to 2024 and is working with hundreds of small and mid-sized suppliers across the country. The company said it is also exploring international co-production options to further scale output.

Raytheon President Phil Jasper said the company continues to invest in its workforce, technology, supply chain, and facilities to meet demand from the U.S. Air Force, Navy, and international partners.

Now in its fifth generation, AMRAAM is deployed across 14 platforms, fielded by 44 countries, and has recorded more than 7,000 successful live fires in test and combat. The missile also serves as the primary interceptor for the NASAMS air defense system.

RTX reported 2025 sales of more than $88 billion and is headquartered in Arlington, Virginia.

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