AMRAAM widely used in wars in Ukraine and Iran
Raytheon, a unit of RTX, received a Defense Department contract valued up to $20.7 billion to accelerate production of its AMRAAM missiles, the company said Monday. Under the five-year arrangement, with two option years, Raytheon will scale AMRAAM output to record levels to meet long-term demand.
The contract is part of broader efforts to rebuild missile stockpiles drawn down by recent conflicts. Raytheon said it has already invested substantially in the air-to-air missile program and nearly doubled its production between 2024 and 2025.
“We continue to make significant investments in our workforce, technology, supply chain and facilities to rapidly scale production capacity and meet surging demand from the U.S. Air Force, Navy and our international partners,” Raytheon President Phil Jasper said.
Shares of RTX rose 1.3% to $190.00 in after-hours trading on Monday following the announcement.
Earlier this summer, the company signed an agreement with a group of NATO allies to build AMRAAM components in Europe, part of a broader push to boost production and replenish air-defense stockpiles.
The missile has been widely used in recent conflicts including the wars in Ukraine and Iran.