Raytheon secures over $1 billion in defense contracts

Investing.com -- Raytheon (NYSE: RTX) has secured multiple defense contracts worth over $1 billion from the U.S. Department of War across various divisions and locations.

The largest award went to Raytheon Missiles and Defense in Andover, Massachusetts, which received an $841,682,106 fixed-price-incentive contract for fire units including new production hardware, software, and related services. This modification brings the total contract value to $1,721,373,872. The work, funded by Foreign Military Sales to Spain, will be completed by June 30, 2031.

In California, Raytheon’s Fullerton division was awarded a $77,718,025 modification to an existing contract for Sentinel A3 Radar life cycle contractor support, with work expected to be completed by December 31, 2026.

The company’s McKinney, Texas location received an $85,764,010 modification to procure APY-10 Radar Systems for P-8A Multi-Mission Maritime aircraft. The order includes seven shipsets for the U.S. Navy, 14 shipsets plus spares for Canada, three shipsets plus spares for Germany, and spares for the United Kingdom, with completion expected by December 2030.

Raytheon’s Tucson, Arizona division secured two contracts: $34,723,420 for manufacturing new parts for the close-in weapon system (CIWS) used on Navy surface ships, and $16,576,580 for overhaul and repair of CIWS parts. Both contracts will involve work in Louisville, Kentucky (70%) and Andover, Massachusetts (30%), with completion expected by December 2028.

Additionally, Raytheon’s Florida operations received a $22,013,911 modification for design, development, integration, test, and maintenance of system capabilities for the Cooperative Engagement Capabilities weapon system. This work will be performed primarily in Saint Petersburg and Largo, Florida, with a small portion in Maynard, Massachusetts, and is expected to be completed by November 2026.

You May Also Be Interested In