Raytheon Wins Contract for PATRIOT Upgrades

Raytheon Company (NYSE: RTN) has been awarded a multi-million contract to provide upgrades to the PATRIOT Guidance Enhanced Missile-Tactical, or GEM-T, missiles. The contract, worth an estimated $58 million, was issued by the U.S. Army Aviation and Missile Command to upgrade 124 missiles.

The upgrades to the missile system will improve performance against cruise and tactical ballistic missiles. Several components will also be replaced to increase the lifespan of the missiles.

Sanjay Kapoor, vice president for Patriot Programs at Raytheon Integrated Defense Systems (IDS), said “Patriot is combat proven and trusted by 12 nations around the globe, and the continuing upgrades speak to the critical role Patriot plays in those countries’ air and missile defense capabilities.”

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