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The US and allied nations have committed additional funding to the Tomahawk modernization program, specifically for Lot 5 and Lot 6 of the Tomahawk Block V upgrades. Raytheon has received a $380.8 million contract modification for the recertification and modernization of Tomahawk Block IV missiles to the new Block V standard, enhancing capabilities such as maritime strike.

Of the funding, $99.4 million will be allocated from Foreign Military Sales (FMS) at the time of the award, supplemented by contributions from the US Army, Navy, and Marine Corps. Countries like Japan and Australia have procured the Block IV missiles, while the UK plans to operate them from new frigates.

The Netherlands will also acquire Block V Tomahawks for its frigates. A separate $59 million contract modification for Standard Missiles 2 and 6 support will benefit FMS to Australia, Chile, Denmark, and South Korea. The global missile market is projected to grow significantly by 2035.