US to boost Tomahawk production 16-fold — Raytheon wins $22.9 bn contract

The US Navy has awarded Raytheon, a subsidiary of RTX, a seven-year contract worth $22.9 billion to dramatically scale up production of Tomahawk cruise missiles. Annual output is set to rise from around 60 to more than 1,000 units per year — a 16-fold increase. The deal reflects the US push to replenish its stocks of precision munitions.