Raytheon, a unit of US group RTX, said on Thursday it had secured a multi-year contract with the US military worth up to $6.3 billion to produce and maintain interceptor missiles, as Washington works to replenish stockpiles drained by conflicts in the Middle East.

The deal covers the Standard Missile-3 Block IB (SM-3 Block IB), which the US Navy uses to intercept short- and medium-range ballistic missiles, the company said, according to Reuters.

The Pentagon is seeking to rebuild its missile defense inventories and step up munitions production to keep pace with growing demand for air defense systems.

The award is the latest in a string of large defense contracts signed by the Pentagon in recent months. Earlier this October, Raytheon won a contract worth up to $24.4 billion to build Standard Missile-6 (SM-6) interceptors for the Navy. In July, Lockheed Martin was awarded a $58.6 billion contract to supply Patriot missiles.

The agreements are part of President Donald Trump's administration's push to accelerate US weapons production by encouraging defense contractors to expand their manufacturing capacity, amid mounting pressure on weapons and ammunition stocks.

Industry executives, however, have warned that shortfalls in funding approved by Congress could hold back the investment needed to upgrade production facilities and strengthen supply chains.

Through these contracts, Washington aims to strike a balance between replacing depleted stockpiles and meeting future military needs, as regional tensions persist and demand for missile defense systems continues to rise.