Raytheon wins AMRAAM production agreement worth up to $20.7 billion

RTX’s Raytheon ($RTX) business has received a multiyear AMRAAM missile contract with a maximum value of $20.7 billion. The arrangement has a five-year term and two option years, extending an earlier production framework aimed at supporting annual output of at least 1,900 missiles. RTX said it had nearly doubled production in 2025 relative to 2024 as it expanded capacity and supplier support.

The award gives the missile business a substantial basis for further manufacturing investment and longer-term production planning. Raytheon is also exploring international co-production to support demand. The headline amount is an upper limit, not guaranteed revenue already earned or cash received; option years and implementation still matter. Planned output increases should likewise be distinguished from the production growth already reported for 2025.

Sources:

• RTX release via PR Newswire