Raytheon Company (NYSE: RTN) has received a $1.7 billion direct commercial sales contract to upgrade Saudi Arabia’s Patriot air and missile defense system. The award includes ground system hardware, a full training package and support equipment upgrades.
To date, 12 countries have tapped Raytheon to install the defense system. Raytheon first provided Saudi Arabia with the system in the 1990s to protect the nation’s critical assets. The company said the upgraded system protects against aircraft threat, tactical ballistic missiles, cruise missiles and UAVs.
Subject to customary U.S. regulatory approvals, Raytheon will perform the work at the Integrated Air Defense Center in Andover, Mass., and in Saudi Arabia.
“Raytheon is honored to provide the most technologically advanced air and missile defense system in the world to Saudi Arabia, ” said Tom Kennedy, president of Raytheon’s integrated defense systems. “We are pleased that, with this contract, they have shown further confidence in Raytheon and the superior air and missile defense capabilities of the Patriot system.”