US awards Raytheon $22.9B for missile production

The U.S. Navy announced that it has awarded Raytheon a contract worth $22.9 billion to increase Tomahawk missile production, aiming to bolster the defense stockpile amid the rising military shipments needed by allies and their use in the Iran conflict. The Acting Secretary of the Navy confirmed that the department is working to expand the ammunition manufacturing capacity to meet operational requirements, without revealing details about the scale of the increase or the duration of the contract.

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