Raytheon Gets $20.7b Contract to Accelerate Amraam Missile Production

Dow Jones05:41

RTX unit Raytheon received a contract valued up to $20.7 billion from the Defense Department to accelerate the production of its AMRAAM missiles.

Under the five-year contract, with two option years, Raytheon said it will scale AMRAAM missile production to record levels to meet long-term demand. Raytheon said it has already invested substantially in the air-to-air missile program and nearly doubled its production between 2025 and 2024.

"We continue to make significant investments in our workforce, technology, supply chain and facilities to rapidly scale production capacity and meet surging demand from the U.S. Air Force, Navy and our international partners," Raytheon President Phil Jasper said.

Shares of RTX were up 1.3% at $190.00 in after-hours trading on Monday.

The company earlier this summer signed an agreement with a group of North Atlantic Treaty Organization allies to build AMRAAM components in Europe as part of a push to boost production and replenish air-defense stockpiles.

The missile has been widely used in recent conflicts including the wars in Ukraine and Iran.

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