Raytheon Lands Up to $24.4 Billion Navy Deal for SM-6 Interceptors
Raytheon, an RTX business, has been awarded a multiyear contract worth up to $24.4 billion for Standard Missile-6 interceptors, the US Navy’s multi-role ship-launched missile. RTX announced the award on October 1, 2026.
The deal covers five years with two option years. It follows the Pentagon’s $20.7 billion AMRAAM award announced days earlier, and Defense News ties both to efforts to rebuild munitions stocks drawn down by Middle East operations.
Raytheon SM-6 Contract Terms
| Item | Detail |
|---|---|
| Customer | US Navy / Department of War |
| Contractor | Raytheon (RTX) |
| Value | Up to $24.4 billion |
| Term | Five years plus two option years |
| Scope | Production of Standard Missile-6 (SM-6) interceptors |
| Production aim | Annual output above 500 missiles, about four times the earlier rate, according to coverage of the RTX release |
| Announced | October 1, 2026 |
| Funding note | Congress has not appropriated money for these deals, per Defense News |
“SM-6’s multi-mission capability is vital to our customer, and Raytheon is intensely focused on meeting the demand,” said Phil Jasper, president of Raytheon. He said continued investment in facilities is “removing constraints and boosting capacity.” RTX said the investment covers workforce expansion, supplier partnerships and production automation.
What the SM-6 Does
Raytheon describes the SM-6 as the only combat-proven weapon that can perform anti-air warfare, anti-surface warfare and ballistic missile defence. It is fired from Navy ships and from land-based launchers. Australia, Germany, Japan and South Korea have ordered or requested SM-6 systems for their ships, according to Calibre Defence, which reports a Japanese order of 150 missiles. Our explainer covers the range and roles of the SM-6.
Two $20 Billion Awards in a Week
The SM-6 award comes within days of the AMRAAM contract, which we covered in Raytheon Wins $20.7 Billion Contract to Nearly Double AMRAAM Production. Defense News adds that Lockheed Martin won a $58.6 billion Patriot interceptor contract in July 2026.
| Missile | Contractor and value | Date |
|---|---|---|
| SM-6 | Raytheon, up to $24.4 billion | October 1, 2026 |
| AMRAAM | Raytheon, up to $20.7 billion | Late September 2026 |
| Patriot interceptors | Lockheed Martin, $58.6 billion | July 2026 |
Raytheon and RTX Company Profile
| Item | Detail |
|---|---|
| Headquarters | Arlington, Virginia |
| Sales | More than $88 billion (2025) |
| Employees | Over 180,000 (2025) |
| Raytheon focus | Missiles, air defence, radars and sensors |
| Known programmes | SM-6, AMRAAM, Patriot radar and GEM-T, Coyote |
The Funding Question
Defense News reports that industry executives have warned that Congress has not appropriated money for these awards. That could limit how much suppliers invest in plant and components until lawmakers act. The Navy has not said how many missiles it will order in the first year. That reading of the risk is analysis, not an RTX statement.
SM-6 Contract FAQ
How much is the SM-6 contract worth?
Up to $24.4 billion over five years, with two option years.
Who is the customer?
The US Navy and the Department of War.
What is the SM-6?
A Raytheon missile that performs anti-air warfare, anti-surface warfare and ballistic missile defence.
Is the contract funded?
Not fully. Defense News reports Congress has not appropriated money for the deal.
Which other countries use the SM-6?
Australia, Germany, Japan and South Korea have ordered or requested it, according to Calibre Defence.
- RTX – “RTX’s Raytheon awarded $24.4 billion multi-year contract for SM-6 interceptors” (press release, October 1, 2026): rtx.com
- Defense News – “US Navy awards RTX’s Raytheon $24.4B for SM-6 missiles amid stockpile concerns” (October 1, 2026)
- Calibre Defence – “Raytheon SM-6 Contract” (October 5, 2026)
