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Home/News Feed/Raytheon secures $22.9B contract to boost Tomahawk missile production for U.S. Navy.

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Raytheon secures $22.9B contract to boost Tomahawk missile production for U.S. Navy.

Market News

17 Aug 2026

PRNewsWire

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Bullish

Raytheon has been awarded a $22.9 billion contract to significantly increase the production of Tomahawk cruise missiles for the U.S. Navy over several years. This contract supports ramping up annual production to over 1,000 missiles, ensuring a stable supply for the Navy and its allies. The Tomahawk missile is a critical long-range strike weapon, valued for its precision and ability to engage targets without risking personnel. Raytheon plans to invest in workforce, technology, and supply chain enhancements to meet the growing demand and collaborate with numerous suppliers nationwide.

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