Raytheon Co. (NYSE: RTN) has been awarded a potential $550 million contract by the U.S. Navy for MK54 lightweight torpedo hardware.
The company’s integrated defense systems business has won a $42.6 million order to deliver 100 MK54 kits for the U.S. fleet inventory in support of foreign military sales.
Contract work could extend five years with options for additional international and domestic assets.
“Together with the Navy customer, we will leverage our collective expertise to continue to advance the reliability and effectiveness of the MK54 torpedo, ” said Kevin Peppe, IDS’ vice president of seapower capability systems. “Our dedication to quality and execution stems from our commitment to our customer – to deliver the most affordable and effective undersea weapons to naval fleets around the world.”
