Navy Contract Supports Missile ProductionThe award supports efforts to strengthen the U.S. military inventory and meet rising demand from allied nations. Under the contract, Raytheon will produce AIM-9X missiles, along with related hardware and software, for U.S. and Foreign Military Sales customers.AIM-9X Demand ExpandsThe AIM-9X is an infrared-tracking, short-range air-to-air and surface-to-air missile used in multiple theaters worldwide. Raytheon said the system can be installed on a wide range of modern aircraft and also supports ground-launched defense capabilities, including the National Advanced Surface to Air Missile System, or NASAMS.The U.S. and more than 35 allied and partner nations use the missile. To meet growing demand, Raytheon is expanding production capacity to 2,500 missiles per year.Most of the work under the contract will take place in Tucson, Arizona, where Raytheon is also expanding its engineering workforce to support critical military programs across multiple domains.RTX Technical Outlook: Momentum And Key Support LevelsThe stock is currently trading above its 20-day simple moving average (SMA) at $182.19 and its 50-day SMA at $179.92. The moving average convergence divergence (MACD) is above its signal line, indicating that downside pressure is easing, suggesting improving momentum in the stock.