RTX's Raytheon wins up to $6.3 billion US missile contract

Oct 8 (Reuters) - RTX's ‌Raytheon said ​on ​Thursday it won a multi-year US military contract worth up to $6.3 billion to ‌produce and sustain Standard Missile-3 Block IB interceptors, ⁠as the Pentagon seeks to rebuild missile-defence inventories and ‌boost munitions production.

The award ‌comes as the Pentagon looks to replenish stockpiles depleted by conflicts in the Middle East and ​meet growing demand for air and missile defence systems.

The Standard Missile-3 Block IB is a ⁠ballistic missile-defence interceptor used by the U.S. Navy against short- and ​intermediate-range ballistic missile threats.

The deal follows a series of large Pentagon missile contracts. In ​October, Raytheon secured a contract ‌worth up to $24.4 billion to produce Standard Missile-6 interceptors for the U.S. ⁠Navy, while Lockheed Martin won a $58.6 billion Patriot missile contract in July.

The agreements are part of the Trump ⁠administration's push to expand U.S. weapons production by encouraging contractors ​to increase manufacturing capacity. Industry executives, however, have warned that a lack of congressional funding could delay investment in ‌facilities and supply chains.

Raytheon said it has invested in expanding production capacity ‌for the Standard Missile family. Work under the ⁠contract will be performed ‌primarily at its ​facilities in Tucson, Arizona, and Huntsville, Alabama.

(Reporting by Apratim Sarkar in Bengaluru; Editing by Anil ‌D'Silva)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Australian NVIDIA-backed AI data centre operator Firmus shelves IPO
• OpenAI's annualized revenue $20 billion less than previously signaled, FT reports
• SpaceX takes aim at US wireless carriers with spectrum acquisition