Raytheon gets massive $23B contract to boost Tomahawk production

AI Summary

Raytheon secured a $23 billion multiyear contract from the Pentagon to increase production of Tomahawk missiles. This contract aims to encourage defense primes to invest more heavily in production facilities and supply chains for critical munitions.

Over the past year, Pentagon leaders have leveraged multiyear contracts for critical munitions as an incentive to get defense primes to make larger investments in their production facilities and supply chain.