Raytheon Missiles & Defense Secures $1.7 Billion US Army Contract for Missile Defense Systems

RTX's Raytheon Missiles and Defense received a $1.7 billion contract from the US Army for low-rate initial production of lower tier air and missile defense systems. The cumulative face value of the contract is now $3.79 billion, with work to be performed in Massachusetts and completion expected by December 28, 2029.

Raytheon Technologies Corporation (NYSE: RTX), through its Raytheon Missiles and Defense segment, has been awarded a $1.7 billion contract modification by the U.S. Army for the low-rate initial production of Lower Tier Air and Missile Defense Systems. This contract brings the cumulative face value of the agreement to $3.79 billion [1].

The contract, which will be executed by Raytheon's Andover, Massachusetts-based operations, is expected to be completed by December 28, 2029. The Army Contracting Command at Redstone Arsenal, Alabama, is the contracting activity [1].

This latest contract is part of a broader effort by the U.S. military to enhance its air and missile defense capabilities. The award underscores the strategic importance of Raytheon's technology and expertise in the defense sector, particularly in the production of advanced missile systems.

For investors, this development is a significant milestone for Raytheon Technologies, highlighting its continued growth and competitiveness in the aerospace and defense industry. The contract modification also indicates a strong demand for Raytheon's products and services, which could translate into future growth opportunities.

Reference List:
[1] https://seekingalpha.com/news/4490241-raytheon-awarded-1_7b-u-s-army-contract-modification
[2] https://www.marketwatch.com/story/rtx-gets-1-7b-missile-defense-contract-4835554f