Raytheon said it was awarded a contract valued at up to $24.4 billion to supply Standard Missile-6 interceptors to the U.S. Navy.
The contract is for an initial term of five years and contains two additional option years, the company added.
The SM-6 is used in a variety of operations, including anti-ship warfare, anti-air warfare and ballistic missile defense.
Raytheon, an RTX business, said it has invested heavily to keep pace with rising demand.
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