(Reuters) -Raytheon Technologies said on Tuesday it has received a $1.15 billion contract from the U.S. Air Force for its AIM-120 D-3 and C-8 AMRAAM (Advanced Medium Range Air-to-Air Missiles).
Defense budgets have ballooned as the West rushes arms to Ukraine and beefs up funding for future development programs. In recent years, the U.S. Congress has increased defense spending by more than any president requests, generally by tens of billions of dollars.
The contract, which provides missiles to both the U.S. Air Force and Navy, will also supply AMRAAM to 18 countries, including Ukraine.
This comes a day after the defense contractor was awarded a $264 million modification contract from the U.S. Navy to produce and deliver 571 short-range AIM-9X Sidewinder missiles.
(Reporting by Nathan Gomes in Bengaluru; Editing by Krishna Chandra Eluri)
