Raytheon Awarded $491M for Lot 28 Air-to-Air Missiles

Raytheon logoRaytheon (NYSE: RTN) has received a $491, 478, 068 contract from the U.S. Air Force to produce lot 28 Advanced Medium Range Air-to-Air Missiles and associated equipment.

The Defense Department said Monday the contract includes orders from South Korea, Thailand, Oman and Singapore through the agency’s foreign military sales program.

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The AMRAAM system is comprised of a captive air training missile, munitions built-in-test reprogramming equipment and an airborne instrumentation unit.

Raytheon will perform work in Tucson, Arizona, and is scheduled to complete the work by Feb. 28, 2017.

USAF is obligating $278, 874, 197 at the time of award from fiscal 2014 production funds.

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