RTX (NYSE: RTX) announced that its Raytheon business has received a seven-year, $22.9 billion contract to accelerate production of Tomahawk cruise missiles for the U.S. Navy. Key Highlights $22.9B contract spanning seven years Production targeted at more than 1,000 Tomahawks annually RTX said it delivered 3× more Tomahawks in H1 2026 than H1 2025 The contract supports increased U.S. Navy and allied demand for long-range precision-strike capabilities. RTX is investing in workforce, facilities, technology and its supplier network to expand production capacity. The award adds to RTX's already substantial defense backlog. Raytheon ended 2025 with $75B in defense backlog, up from $63B a year earlier. Market Impact The contract strengthens the long-term outlook for RTX's Raytheon defense business and highlights continued U.S. spending on precision weapons and munitions