Rithyon secures $6.3B missile contract

Raytheon Company, a subsidiary of RTX, announced that it has secured a contract worth up to $6.3 billion with the U.S. Army, spanning several years, to manufacture and maintain Standard Missile-3 Block I/B missiles. This comes in conjunction with the U.S. Department of Defense’s efforts to rebuild its missile defense stockpiles, which were depleted due to conflicts in the Middle East, and to meet the growing demand for air defense and ballistic missile systems. This deal is among several large contracts recently awarded to American defense companies as part of a plan to expand missile production, despite concerns over funding shortages and investment delays.

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