The US Defense Department announced Thursday that it awarded a $24.4 billion contract to Raytheon, an RTX unit, to accelerate production of SM-6 missiles, according to Arab News. The deal is intended to help Washington replace the large quantity of munitions expended during the Iran war.
In a statement, the Pentagon said the missiles are a "critical anti-air and anti-surface warfare munition," and that the "five-year agreement, with two additional option years, will drive faster production."
The Navy has described the arrangement as a multiyear contract, the report said.
