Defense group RTX (RTX) could struggle to fulfill an order from Japan for its long-range Tomahawk missiles because so many of them have been used up in the U.S. war on Iran.
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Missile Delivery Disruption
According to an article in Bloomberg, Washington has already warned Japan that deliveries for its order of around 400 Tomahawks, made by RTX’s business unit Raytheon, by March 2028 would be disrupted. Japan’s $2.35 billion order in 2024, one of the biggest ever by a foreign country, was aimed at building up its defensive capabilities against potential threats from China and North Korea.
The report states that before the U.S. and Israel launched attacks on Iran on February 28, there were around 4,000 Tomahawks in U.S. stockpiles. RTX produced around 100 new missiles in 2025, while about 240 older models were upgraded to the latest Block V standard.
It is understood that more than two years of such combined production has already been used in the war given the scale of Iran’s military response, particularly its use of drones against U.S. bases and Gulf States’ energy infrastructure.
Demand Will Remain Strong
The U.S. government did not comment on the report but an RTX spokesperson said it was unaware of any disruptions to shipments.
Although a blow to Japan, the delay should not be too significant for RTX. If the war continues, there will be continued demand from the U.S. government for more missiles. When the war ends, stockpiles will also have to be rebuilt.
Orders for the missiles as well as other defensive equipment are also likely to remain strong in an ever volatile world. If the U.S. further reduces its commitments to NATO, for example, then orders from European countries will likely increase.
It is partly why the RTX share price is up 50% over the last 12 months – see above.
Is RTX a Good Stock to Buy Now?
On TipRanks, RTX has a Moderate Buy consensus based on 11 Buy and 4 Hold ratings. Its highest price target is $242. RTX stock’s consensus price target is $225.54, implying a 14.95% upside.
