10:12 AM EDT, 10/23/2024 (MT Newswires) -- RTX (RTX) said Wednesday its Raytheon unit has won $676 million in contracts from the US Army to continue producing the tube-launched, optically-tracked, wireless-guided TOW missile system.

The contracts consisted of $430 million in fiscal 2023 and $246 million in fiscal 2024. Production will be conducted in Tucson, Arizona, the company said.

Raytheon has delivered more than 700,000 TOW systems worldwide, with the US Department of Defense supplying 13,000 units to Ukraine, RTX said.

Price: 126.48, Change: +0.95, Percent Change: +0.76