RTX Wins $24.4 Billion Navy Deal for SM-6 Interceptors

The U.S. Navy has awarded Raytheon, a unit of RTX, a $24.4 billion contract to produce SM-6 interceptors, the company said. The deal addresses what officials have described as stockpile concerns, as the missile is a mainstay of naval air and missile defense used across multiple ship classes. The award is one of the larger single contracts in the SM-6 program's history and signals the Pentagon's push to replenish munitions after years of elevated usage. For RTX, it adds a long multi-year revenue stream to its defense segment at a time when demand for air defense systems remains elevated globally. What is unresolved is the delivery timeline and how quickly Raytheon's production lines can scale to meet the order, given supply chain constraints that have affected munitions makers industry-wide.