RTX secures $20.7B AMRAAM contract, accelerates production ramp
Sep 28, 2026, 5:30 PM EDT2 sourcesAI-analyzed
Why it may matterVerify against the original reporting
Large, multi-year DoD award boosts revenue visibility, backlog, and potential free cash flow; historically such wins lift defense suppliers' multiples when accompanied by production ramps.
AI summary
What happened, with direct paths to the underlying reporting
RTX's Raytheon unit won a five-year, up to $20.7B contract to accelerate AMRAAM production under the Arsenal of Freedom. The deal strengthens revenue visibility, supports backlog growth, and signals robust demand for US air defense interceptors, with international co-production discussions potentially broadening the addressable market.
Five-year DoD contract for AMRAAM missiles worth up to $20.7B.
Annual production target at least 1,900 missiles; option years extend.
RTX production nearly doubled AMRAAM output in 2025 versus 2024.
International expansion via suppliers and potential co-production with allies.
AMRAAM spans 14 platforms across 44 countries with 7,000+ live fires.
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