RTX’s Raytheon Awarded $24.4B Missile Contract as Trump Finally Admits Stockpiles “A Little Bit Lower”

The Pentagon on Thursday announced a massive new defense contract at a moment many Congressional members are concerned over America’s dwindling arsenal of both defensive and offensive missiles and weapons systems.

Raytheon, an RTX unit, has been awarded a $24.4 billion contract for the accelerated production of SM-6 missiles, amid the scramble to replace them in the wake of Trump’s Operation Epic Fury bombing campaign of Iran.

A Pentagon statement described the missiles as ”critical anti-air and anti-surface warfare munition” and previewed that “this five-year agreement, with two additional option years, will drive faster production.”

The announcement further described that the deal “provides the defense industry with the long-term predictability needed to expand workforce capacity and secure critical supply chains.”

Additionally, “The Navy said the multiyear contract is meant to provide a steady and reliable supply of the Standard Missile-6 interceptors, which can carry out both offensive strikes and missile defense missions.”

President Trump has stretching back over weeks and months consistently denied that the Pentagon is suffering a weapons shortage due to the Iran war. Instead, he has blamed any shortfall or stockpile concerns on his predecessor Biden and his Ukraine war policies.

But certainly the Pentagon is acting like there’s a problem, given it is quickly handing out these large contracts in order to establish “faster production” and greater “long-term predictability”. This after a mid-July report from the Pentagon’s inspector general did point to a serious and growing problem.

Trump had slammed the report as “mostly fake news” at the time; however, just this week he finally did acknowledge that some munitions “are a little bit lower” in the wake of the seven-month long Iran conflict. Trump’s new remark this week is as follows:

“Some forms of ammunition are a little bit lower than other forms,” the president said in an interview with TIME magazine published Thursday, adding: “We’re stocking up at levels we’ve never done before.“

Some critics among MAGA have underscored that the munitions crisis reveals an abandonment of ‘America First’ policy, also given the immense amounts of interceptors expected on Israel and Gulf allies of late.

Ultimately the only winners in all of this are Israel and the major defense contractors, who will continue to see huge returns with the help of the US taxpayer.