Australia Buys 200 Tomahawk Cruise Missiles From US

Australia has entered into a deal with the U.S. to acquire more than 200 Tomahawk cruise missiles as a step to boost its military capabilities.

The Tomahawk missiles, costing about A$1.3 billion, have a range of 1500 kilometres.

Australia will become one of only three nations to have a Tomahawk long-range strike capability when it purchases more than 200 of cruise missiles from the U.S. for the Royal Australian Navy’s Hobart-class destroyers.

The missiles, in the ship-launched versions, are manufactured by the aerospace and defense conglomerate  RTX Corp RTX, according to a report from Reuters.

The report noted that the announcement comes days after the U.S. approved the sale of M142 High Mobility Artillery Rocket Systems (HIMARS) for $975 million to Australia.

The report specified that the country has ramped up the efforts to acquire advanced military technology in the wake of China’s biggest military build-up since the end of World War Two.

Earlier in 2023, Australia and the U.S. agreed to develop a nuclear-powered submarine fleet.

Price Action: RTX shares closed higher by 0.76% at $85.80 on Friday.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: EquitiesNewsContractsPoliticsMarketsGeneralBriefsEurasia
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!