US Navy awards $24.4 billion to accelerate production of Standard Missile-6

The US Navy has secured a deal worth up to $24.4 billion with Raytheon to ramp up production of Standard Missile-6 interceptors over five years. The Pentagon says the agreement will increase SM-6 inventory, strengthen vulnerable supply chains and give defence contractors greater certainty to expand factories and workforce. The deal is part of Washington’s broader push to accelerate critical munition production.