Raytheon Lands $22.9B Tomahawk Missile Contract, Tripling Production
RTX sits 50% above its 52-week low of $150.613.
Summary
Raytheon, an RTX business, secured a seven-year, $22.9 billion contract from the U.S. Navy for Tomahawk cruise missiles under the Department of War's Arsenal of Freedom program. The deal supports an annual production ramp to more than 1,000 missiles and follows a tripling of Tomahawk deliveries in the first half of 2026 versus the prior year. This is a major defense order that locks in long-term revenue visibility for RTX's missile segment and reinforces the company's raised 2026 outlook from July. The contract size is material relative to RTX's $88 billion annual sales and signals sustained demand for precision-strike weapons. Watch for further details on production capacity investments and supplier expansion as the ramp progresses.
At the time of this announcement, RTX was trading at $226.49 on NYSE in the Manufacturing sector, with a market capitalization of approximately $300.5B. The 52-week trading range was $150.61 to $226.88. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: PR Newswire.