Raytheon Wins $20.7 Billion AMRAAM Production Contract

Raytheon, RTX's defense unit, announced on September 28, 2026, a contract valued at up to $20.7 billion for AMRAAM missile production. The five-year award includes two option years, with work in Tucson, Arizona, through June 30, 2033. RTX said it nearly doubled production in 2025 from 2024 and targets at least 1,900 missiles a year for the U.S. Air Force, Navy, and international partners. Raytheon President Phil Jasper said the company is investing in workforce, technology, supply chain, and facilities to scale capacity. RTX shares rose in after-hours trading. RTX earlier signed a summer agreement with NATO allies to build AMRAAM components in Europe. Initial funding includes $154.3 million in Foreign Military Sales funds and $85.7 thousand in Air Force procurement funds. The contract is provisional; Congress has not appropriated full multiyear funding. The structure parallels a $58.6 billion seven-year Patriot contract awarded to Lockheed Martin in July. RTX said AMRAAM is fielded by 44 countries across 14 platforms with more than 7,000 successful live firings. The missile is used in NASAMS, which defends the Washington area and is operated by Ukraine, Oman, Qatar, and others. No factual disputes were found on the core contract terms. Full multiyear funding remains unresolved.