The contracts include $745.4M for Standard Missile-3 Block IIA production, bolstering U.S. missile defense capabilities.
Raytheon Technologies (RTX) announced two U.S. defense contracts totaling $1.28B for missile and weapons-system production. The agreements were awarded by the Missile Defense Agency and other defense entities.
The larger contract, valued at $745.4M, covers the manufacture and assembly of Standard Missile-3 Block IIA missiles. The remaining funds will support additional weapons-system development, though specific details were not disclosed.
The contracts reflect ongoing U.S. investment in missile defense amid rising geopolitical tensions. No immediate market reaction was reported following the announcement.