Iron dome boost: RTX and Rafael seal billion-dollar missile agreement

Defense contractor RTX announced on Saturday that its joint venture with Israel’s Rafael Advanced Defense Systems, Raytheon-Rafael Protection Systems, has secured a USD 1.25 billion contract to provide Israel with surface-to-air missiles. 

The package includes missiles, missile kits and test equipment dedicated to strengthening the Iron Dome air defense system.

The contract comes amid heightened global geopolitical tensions, which continue to drive strong demand for RTX’s defense products. The Iron Dome system, considered one of the world’s most effective short-range interception platforms, relies heavily on this class of interceptor missiles.

As part of the expanding production effort, the companies highlighted a USD 33 million capital investment to build a new facility in East Camden, Arkansas. 

The plant will manufacture missiles for both the Iron Dome Weapon System and its U.S. variant, SkyHunter, designed to counter short- to medium-range aerial threats.

RTX recently raised its annual profit and revenue outlook, citing growing international demand for its missile systems as well as increased aftermarket services. The latest contract further consolidates the company’s position as a key supplier in the global air defense market.