Raytheon has received a $22.9 billion, seven-year U.S. Navy contract to sharply expand Tomahawk missile production, with annual output targeted to rise from about 60 missiles to more than 1,000. Acting Navy Secretary Hung Cao said the award is meant to speed deliveries as Washington rebuilds precision-weapon stockpiles depleted by the Iran war and other global commitments, while Raytheon President Phil Jasper said the company is investing in its workforce, technology, supply chain and factories to meet surging demand. The award formalizes a February framework agreement and comes as Reuters has reported the United States used nearly all of some Army long-range precision missiles during the Iran conflict and deployed nearly half of its Tomahawk inventory. It also extends a run of major defense awards for RTX, including contracts for SM-3 Block IIA interceptors, SPY-6 radars and AIM-9X Block II missiles, as the company posts stronger defense results with a 22% rise in backlog to $289 billion and higher 2026 sales and earnings guidance.