Navy Awards RTX's Raytheon $24.4 Billion SM-6 Contract to Replenish Munitions Stockpiles

The U.S. Navy on Oct. 1, 2026, awarded RTX's Raytheon unit a multiyear contract worth up to $24.4 billion to produce Standard Missile-6 interceptors, as the Pentagon presses to replenish munitions depleted by conflicts in the Middle East. The five-year contract, which includes two additional option years, is intended to secure a steady supply of the SM-6, a missile capable of both offensive strikes and missile defense missions. The award is the latest in a series of large munitions contracts this year aimed at pushing contractors to accelerate output. It follows a $20.7 billion provisional multiyear deal for Raytheon's AMRAAM missiles in late September and a $58.6 billion Patriot interceptor contract awarded to Lockheed Martin in July.