US Navy awards RTX’s Raytheon $24.4B for SM-6 missiles amid stockpile concerns

RTX’s Raytheon unit won a multiyear contract worth up to $24.4 billion to produce Standard Missile-6 interceptors for the U.S. Navy, the service said on Thursday, as the Pentagon pushes to replenish munitions stockpiles depleted by conflicts in the Middle East . The five-year contract, which includes two additional option years, the Navy said, is meant to provide a steady and reliable supply of the SM-6, a missile that can carry out both offensive strikes and missile defense missions. The SM-6 award is the latest in a series of large munitions contracts the Pentagon has pursued this year to…