On August 17, 2026, acting Navy Secretary Hung Cao announced that the U.S. Navy has awarded a $22.9 billion contract to Raytheon. The contract aims to accelerate the production of Tomahawk missiles in response to a munitions shortage following the onset of the Iran war. This initiative is part of the Department of Defense's efforts to strengthen the defense industrial base.
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U.S. Navy awards $22.9 billion contract to Raytheon for Tomahawk missile production
The U.S. Navy has awarded a $22.9 billion contract to Raytheon to increase the production of Tomahawk missiles. This decision, announced by acting Navy Secretary Hung Cao, is intended to address a munitions shortage resulting from the Iran war.
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Navy awarded $22.9B contract to Raytheon to accelerate Tomahawk missile production
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U.S. Navy awards $22.9 billion contract to Raytheon for Tomahawk missile production