Raytheon, RTX’s defense arm, announced on Wednesday that the U.S. Navy has awarded it a contract worth $1.1 billion to produce additional short-range AIM-9X Block II Missiles.

The contract will help increase production of air-to -air and surface to -air missiles, which are used in over 30 countries by the United States and its allies.

The demand for military equipment and missiles has been strong, and it is expected to continue growing as geopolitical tensions increase around the globe.

Last month, U.S. president Donald Trump asked Congress for a national defence budget of $892.6billion for fiscal year 2026, matching the budget for 2025, with an emphasis on rebuilding the army, reestablishing deterrence, and promoting security. (Reporting by Utkarsh Shetti in Bengaluru; Editing by Vijay Kishore)

(source: Reuters)