Raytheon wins $1.3 billion in missile defense contracts

Investing.com - Raytheon secured two U.S. military contracts worth a combined $1.3 billion for missile production and weapon system support, the Department of Defense announced Friday.

The defense contractor received a $745.4 million contract to manufacture and assemble Standard Missile-3 Block IIA All-Up Rounds for the U.S. government and Japan Ministry of Defense foreign military sales requirements. The Missile Defense Agency in Huntsville, Alabama awarded the noncompetitive, undefinitized contract, which obligates $275.6 million in fiscal 2026 procurement funds and $277.7 million in Japan Ministry of Defense foreign military sales funds at the time of award.

Work on the missile contract will be performed in Tucson, Arizona and Huntsville, Alabama with an estimated completion date of Feb. 28, 2031.

Raytheon also received a $536 million modification to an existing contract for full rate production and engineering services supporting the TOW Weapon System. The modification brings the total cumulative value of that contract to $750.8 million. Army Contracting Command at Redstone Arsenal, Alabama awarded the modification, obligating $54.9 million in fiscal 2026 other procurement Army funds.

Work on the TOW Weapon System contract will be performed in Tucson, Arizona with an estimated completion date of Aug. 31, 2027.

You May Also Be Interested In

• European Commission closes antitrust probe into RTX unit
• Emkay Global Starts Urban Company (URBANCO:IN) at Buy (1)
• Jefferies sees metals breakout on currency concerns