The Pentagon has awarded Raytheon a $24.4 billion contract to accelerate production of SM-6 missiles as the United States works to replenish munitions consumed during the war with Iran.

The agreement covers five years with two additional option years and is designed to give the defense industry enough long-term certainty to expand its workforce, increase manufacturing capacity, and secure critical components needed to produce the missiles more quickly.

The Pentagon described the SM-6 as a “critical anti-air and anti-surface warfare munition” and said the new contract will help drive faster production of the combat-proven missile.

The massive investment comes after U.S. forces expended significant quantities of munitions during Operation Epic Fury, the Pentagon's name for the campaign against Iran. A Defense Department inspector general report last month warned that the amount of weaponry used during the operation had created strategic inventory shortfalls and exposed bottlenecks in the American defense industrial base.

The Congressional Budget Office similarly warned in a Sept. 15 report that the depletion of missile-defense supplies could leave the United States with reduced inventories of interceptors for several years.

Those concerns have increased pressure on the Pentagon and defense contractors to expand production before another major conflict places additional strain on already limited stockpiles. The SM-6 is particularly important because it can be used against both aerial and surface threats and can be launched from U.S. Navy ships as well as land-based platforms.

Raytheon said the SM-6 has been successfully fired from multiple Navy ship-based platforms and land launchers, describing the weapon as combat-proven. The company also said it has been investing in its facilities and production operations to remove manufacturing constraints and increase output.

“By continuously investing in our operations and facilities, we are removing constraints and boosting capacity to ensure we deliver this critical capability our sailors depend on,” Raytheon President Phil Jasper said.

The contract comes as tensions involving Iran remain elevated. Tehran continues to exert control over the strategically important Strait of Hormuz, while the United States has maintained pressure on Iran and its ability to move goods through its ports.

The potential for renewed fighting is adding urgency to efforts to rebuild U.S. missile inventories. Further strikes or a broader conflict could require the military to draw down its stockpiles again, making expanded production a significant concern for U.S. defense planners.

The $24.4 billion agreement therefore represents more than a routine weapons purchase. It is part of a broader effort to address weaknesses exposed by the Iran conflict and ensure the United States has sufficient missile-defense capabilities if another major military confrontation occurs.