Raytheon secures $2 billion contract modification for satellite terminals

Investing.com -- Raytheon Co. (NYSE: RTX) has received a $2.01 billion contract modification from the U.S. Department of War for Advanced Extremely High Frequency Terminal production, the Pentagon announced Friday.

The modification increases the total value of the original contract, awarded in 2021, to $2.97 billion from $960 million. The contract number FA8735-21-D-0001 was initially established under a ceiling arrangement.

Work under the modified contract will be conducted at Raytheon facilities in Marlboro, Massachusetts, and Largo, Florida. The company is expected to complete the work by Aug. 9, 2031.

No funds are being obligated at the time of the modification award. The Air Force Nuclear Weapons Center Strategic Communications Division in Bedford, Massachusetts, serves as the contracting authority for the program.

Advanced Extremely High Frequency systems provide secure communications capabilities for military operations.

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