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Raytheon Wins $105M For Navy Airframe Missile; Rick Nelson Comments

U.S. Navy photo

Raytheon (NYSE: RTN) has won a potential $105 million contract to continue manufacturing rolling airframe missiles for the U.S. Navy, the company announced Wednesday..

The company will move into block two of low rate initial production and update the missile’s kinematics, radio frequency receiver, rocket motor and the control and autopilot system.

German firm RAMSYS partnered with Raytheon to develop the missile, said Rick Nelson, vice president of naval weapon systems for the missile systems segment.

Nelson added in a release the company has conducted more than 300 flight tests.

According to the company, the program will have another intercept test later this year and initiate government developmental testing for fleet deployment.

Raytheon recently won a follow-on $925 million award to continue development and integration work on Standard Missile-3 for the U.S. Missile Defense Agency.

The ceiling value for SM-3’s third variant is now close to $1.5 billion.

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