RTX Wins $22.9 Billion Navy Contract to Expand Tomahawk Missile Production

The U.S. Navy awarded Raytheon, an RTX ($RTX) business, a $22.9 billion multi-year contract to accelerate Tomahawk cruise missile production as U.S. weapons stockpiles face pressure from the ongoing war with Iran. The award supports an annual production ramp above 1,000 Tomahawks and follows recent RTX investments to expand missile manufacturing capacity.

• RTX said it delivered three times more Tomahawks in the first half of 2026 than during the same period in 2025.
• The company will expand manufacturing capacity and work with hundreds of U.S. suppliers as the Navy seeks shorter procurement lead times and greater munitions output.
• The framework also covered production increases for AMRAAM, SM-3 and SM-6 missiles, while RTX said its Tomahawk expansion was part of $2.6 billion in 2025 capital investment.
• RTX and Raytheon have maintained extensive federal lobbying activity through both in-house and outside-firm filings, with disclosures covering missile programs, munitions, defense procurement, acquisition policy and defense appropriations.
• RTX's recent lobbying disclosures include contacts with Congress, the Pentagon and White House on defense-related issues. They spent over $3 million on lobbying costs in Q2 this year.

Relevant Companies

• RTX ($RTX) — Raytheon received the $22.9 billion Tomahawk production contract.

Editor’s Note: This is a developing story. This article may be updated as more details become available.