The Department of War has announced a U.S. Navy award of $24.4 billion to Raytheon, an RTX business, to accelerate production of the Standard Missile-6 (SM-6), a critical anti-air and anti-surface warfare munition.
The five-year agreement, which includes two additional option years, is intended to drive faster production, increase manufacturing throughput, and deliver significant cost savings across the defense industrial base.
"Our mission is to ensure our warfighters never enter a fair fight," said Michael P. Duffey, Under Secretary of War for Acquisition and Sustainment. "This multi-year award locks in the magazine depth and lethal dominance our forces need to prevail, while demanding our industrial base produce at war-speed."
According to the announcement, the agreement, coupled with the recent Tomahawk weapon system award, provides the defense industry with the long-term predictability needed to expand workforce capacity and secure critical supply chains.
Together, the department said, these strategic investments ensure warfighters remain equipped with the advanced capabilities required to maintain global maritime superiority.
The Office of the Under Secretary of War for Acquisition and Sustainment said it equips the Joint Force and Allies with secure, resilient, and decisive capabilities, executing a portfolio-driven strategy to field advanced technologies at speed and scale. The office said it is accelerating acquisition and modernizing critical infrastructure as it works to rebuild the Arsenal of Freedom and secure the nation's military advantage against any pacing threat.