The Defense Department on Thursday announced a new five-year $24.4 billion Navy award to RTX’s [RTX] Raytheon business unit to accelerate production of the ship-based Standard Missile (SM)-6 anti-air and anti-surface weapon. The agreement aims to push for faster production, increased manufacturing throughout and deliver significant cost savings across the defense industrial base, the announcement said. The agreement includes two option years. “Our mission is to ensure our warfighters never enter a fair fight. This multi-year award locks in the…
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