Raytheon Gets APY-10 Radar Systems Contract from US Navy, Australia

Raytheon logoRaytheon (NYSE: RTN) has been awarded a combined $152.9 million contract to produce APY-10 radar systems for the U.S. Navy and Australian government under a cooperative agreement.

The Defense Department said Thursday the 53 radar kits to be produced by the company under the firm-fixed-price contract will be used onboard the P-8A Poseidon maritime patrol and surveillance planes of the service branch and Australia’s military.

A majority of the work will occur in McKinney, Texas, and the rest will be performed in Massachusetts, New Jersey, California, North Carolina, Virginia, Connecticut, Pennsylvania and Ontario, Canada, through August 2021, DoD said.

The Naval Air Systems Command is obligating $58, 935, 111 at the time of award from the service’s fiscal 2015 aircraft procurement and other customer funds.

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