Pentagon awards Raytheon up to $20.7 billion contract for AMRAAM production

The Pentagon has awarded Raytheon a multiyear contract worth up to $20.7 billion to nearly double the production of Advanced Medium-Range Air-to-Air Missiles (AMRAAMs).

Why it matters. Raytheon will significantly increase its production of AMRAAMs, affecting the defense industry and U.S. military capabilities.