Home / Business and Economy / RTX Secures $24.4B Missile Contract
RTX Secures $24.4B Missile Contract
2 Oct
Summary
- RTX Corp. awarded a substantial $24.4 billion deal by the US Navy.
- The contract accelerates production of the crucial Standard Missile-6.
- The agreement spans five years with an optional two-year extension.
The US Navy has awarded RTX Corp. a major contract valued at up to $24.4 billion. This agreement is designed to accelerate the production of the Standard Missile-6, also known as the SM-6.
The SM-6 is a crucial weapon system for the Navy, capable of engaging both anti-air and anti-surface threats. The contract covers an initial five-year period, with the possibility of an additional two years, ensuring a substantial increase in the supply of these vital missiles.
This significant investment highlights the US Navy's focus on enhancing its defensive capabilities and maintaining a robust arsenal of advanced missile technology. The extended production timeline will support the Navy's ongoing operational needs and strategic objectives.
