Pentagon awards RTX's Raytheon $20.7 billion to nearly double AMRAAM missile production
The U.S. Department of Defense awarded RTX's Raytheon a multiyear contract worth up to $20.7 billion to produce Advanced Medium-Range Air-to-Air Missiles (AMRAAMs), a deal the Pentagon says will nearly double production. The five-year contract, with two option years, was awarded on September 25 and announced on September 28, 2026. It is a joint procurement by the Air Force, Navy, and allied nations, part of the Pentagon's Arsenal of Freedom campaign to replenish munitions stockpiles depleted by the war with Iran. Congress has not yet funded the full deal, which Reuters described as provisional.
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