Raytheon secures $634 million in defense contracts for missile systems

Investing.com -- Raytheon Technologies (NYSE: RTX) has been awarded three major defense contracts totaling approximately $634 million for various missile systems, according to U.S. Department of War announcements.

The largest award is a $384 million fixed-price incentive modification to an existing contract for Raytheon Missiles and Defense in Tucson, Arizona. This modification brings the total contract value to $785.2 million and includes procurement of 219 additional Block V Tactical Tomahawk All Up Rounds, bringing the total to 350 units. The contract will provide missiles and related hardware for the Navy, Army, Marine Corps, and two Foreign Military Sales customers.

Work on the Tomahawk contract will be performed across multiple locations including Tucson, Arizona (17.7%), East Camden, Arkansas (14.2%), and Pontiac, Michigan (13.6%), with completion expected by January 2029.

In a separate award, Raytheon secured a $104 million cost-plus-fixed-fee contract for technical and design agent engineering supporting the Evolved SeaSparrow Missile and NATO SeaSparrow Missile Systems programs. This contract includes options that could increase its value to $884.9 million if exercised. The contract combines purchases for the U.S. Navy (36%) and multiple international partners under Memorandum of Agreements (59%) and Foreign Military Sales (5%).

The third contract, valued at $146.2 million, was awarded to Raytheon Missile and Defense for the Rolling Airframe Missile (RAM) Block 2B Guided Missile Round Pack. This firm-fixed-price contract includes options that could bring its total value to $276 million. The work will be split between the U.S. Navy (58%) and Japan (42%) under the Foreign Military Sales program.

Both the SeaSparrow and RAM contracts were awarded on December 19, 2025, with work expected to be completed by December 2026 and July 2028, respectively. If all options are exercised, work could continue through 2030 for both programs.

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