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US Navy awards Raytheon $22.9 billion contract to boost Tomahawk output

Created at 17 Aug · 12:29 PM2 sources↑ Market-relevant2 events
IN SHORT

The U.S. Navy awarded Raytheon a $22.9 billion contract to accelerate Tomahawk missile production amid concerns over strained missile stocks. Acting Secretary Hung Cao stated the deal would speed up deliveries to meet operational demands.

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Key Numbers

$22.9 billioncontract value for Tomahawk missile production
1,600kmTomahawk missile range

Who's Involved

Raytheon
RTX Unit awarded $22.9 billion contract by U.S. Navy
Hung Cao
Acting Secretary of the Navy
Michael P. Duffey
Under Secretary of War for Acquisition and Sustainment
U.S. Navy
Awarded contract to accelerate Tomahawk missile production
Department of War
Announced contract award to Raytheon
US Navy awards Raytheon $22.9 billion contract to boost Tomahawk output

↳ Why This Matters

The contract aims to bolster U.S. long-range strike capabilities and replenish missile stocks, which have been reportedly strained by ongoing global conflicts.

Key facts

  • The U.S. Navy awarded Raytheon a $22.9 billion contract to accelerate Tomahawk missile production.
  • The contract aims to enhance long-range strike capabilities and strengthen supply chains.
  • Acting Secretary of the Navy Hung Cao stated the contract utilizes every available tool to meet current operational demands.
  • Under Secretary of War for Acquisition and Sustainment Michael P. Duffey highlighted RTX's response to expand munitions production.
  • The initiative supports the Department of War's rapid capability fielding goals by reducing procurement lead times.

    • The U.S. Navy has awarded RTX Unit Raytheon a $22.9 billion contract to accelerate the production of Tomahawk missiles. This strategic investment aims to enhance the Joint Force's long-range strike capabilities and strengthen supply chains, addressing concerns about depleted inventories of precision-guided weapons.

    Acting Secretary of the Navy Hung Cao stated that the contract utilizes every available tool to meet the demands of current operations, ensuring naval and joint forces possess the necessary firepower to deter aggression and protect the homeland. Under Secretary of War for Acquisition and Sustainment Michael P. Duffey noted that RTX has responded to the Department's call to expand munitions production.

    The initiative supports the Department of War's rapid capability fielding goals by reducing procurement lead times. The Portfolio Acquisition Executive (PAE) Munitions, a Department of the Navy organization, plays a key role in overseeing the development, procurement, and delivery of naval munitions. This award provides industry partners with greater stability and predictability, enabling workforce expansion, increased manufacturing throughput, and stronger supply chains.

    Frequently asked questions

    The U.S. Navy awarded Raytheon a contract valued at $22.9 billion.

    The contract aims to accelerate the production of Tomahawk missiles to enhance long-range strike capabilities and strengthen supply chains.

    Raytheon is an RTX Unit that has been awarded the contract by the U.S. Navy.

    Cao stated that the contract utilizes every available tool to meet the demands of current operations and guarantees naval and joint forces have the lethal firepower needed.

    What Happens Next

    01Raytheon will work to expand workforce capacity and manufacturing output.
    02The contract is expected to provide stability for industry partners.

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    Cadence

    How It Developed

    The U.S. Navy awarded Raytheon a $22.9 billion contract to increase Tomahawk missile production.
    The Pentagon announced a $22.9bn contract with Raytheon to accelerate Tomahawk missile deliveries.
    Acting US Navy Secretary Hung Cao said the deal would speed up deliveries to meet current operational demands.
    Raytheon will work to expand workforce capacity and manufacturing output.
    The contract is expected to provide stability for industry partners.

    Sources

    T1
    US Navy awards Raytheon $22.9 billion contract to boost Tomahawk outputReuters
    T1
    Pentagon signs multibillion-dollar Tomahawk deal amid missile shortage concernsMiddle East Eye
    T2
    U.S. Navy Awards Raytheon $22.9B Tomahawk Missile Contractdevdiscourse.com
    T2
    U.S. Navy and RTX Accelerate Critical Munitions Production Through ...navy.mil
    T2
    Department of War Awards $22.9 Billion Contract to RTX for Accelerated ...newsroomamerica.com

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