US Defense Contractors Report Record Backlogs Amid Increased Military Spending

Major American defense contractors are reporting record-breaking order backlogs as the Pentagon increases spending to replenish missile stockpiles and modernize military systems.

RTX reported a companywide backlog of $340 billion, driven significantly by $23 billion in Tomahawk cruise missile contracts and $14 billion in AMRAAM missile orders. The company’s Raytheon division saw a 14% increase in sales, fueled by higher production of naval weapons, Patriot air defense systems, and Tomahawk missiles.

Northrop Grumman also reported a record $109.6 billion backlog. The company secured $16.4 billion in new contracts during the third quarter, including funding for the Sentinel nuclear missile program, Virginia-class submarines, and F-35 fighter aircraft.

Other significant contract awards include an $8 billion Air Force contract for Raytheon to modernize strategic communications terminals and over $226 million in awards for Lockheed Martin to support Apache helicopters, electronic warfare systems, and F-35 programs.