US awards $21 billion missile contract to RTX’s Raytheon as it looks to replenish stocks amid ongoing conflict with Iran

Economic Times - Sep 29, 2026

The US has moved to significantly increase production of AMRAAM missiles after awarding Raytheon a multiyear agreement valued at $20.7 billion. The weapon is used by fighter jets for air-to-air engagements and by NASAMS for ground-based air defence. The planned expansion includes higher annual output, but the full contract value remains dependent on funding from Congress.

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