US awards Raytheon $24.4 billion contract to accelerate SM-6 missile production
Source Summary
The US Navy has awarded Raytheon Technologies a $24.4 billion contract to increase production of the SM-6 missile, which performs both offensive and defensive missions. The contract aims to ensure a steady and reliable supply of the weapon system.
Why it matters
The contract represents a major US military investment in accelerating production of a dual-purpose missile system amid heightened regional tensions.
