Raytheon Wins $22.9B Navy Contract to Expand Tomahawk Production

RTX Corporation's Raytheon division has secured a $22.9 billion, seven-year contract from the U.S. Navy to dramatically expand production of Tomahawk cruise missiles, the Department of War announced on August 17, 2026. The agreement aims to ramp annual manufacturing output to more than 1,000 missiles, a substantial increase from the current production rate of approximately 60 per year.

The contract, awarded under the Department of War's Arsenal of Freedom initiative, provides a stable multiyear framework for Tomahawk production and associated support services. Raytheon President Phil Jasper stated that the company is making significant investments in its workforce, technology, supply chain, and facilities to meet the increased demand. "Tomahawk is the Navy's most important strike weapon, able to target hostile forces hundreds of miles away without ever risking the lives of our sailors," Jasper said.

The production push builds on momentum already achieved. RTX delivered three times more Tomahawk missiles in the first half of 2026 compared to the same period in 2025. The new contract is intended to give the Navy and allied customers a more predictable supply of the long-range...