Raytheon Awarded $98M Navy Precision Extended Range Munition IDIQ

Raytheon logoRaytheon (NYSE: RTN) has been awarded a $98 million indefinite-delivery/indefinite-quantity contract to produce Precision Extended Range Munition weapon systems for the U.S. Navy’s expeditionary fire support operations.

The 120-millimeter munition system supports an extended range and provides a guided, precision-capable projectile, the Defense Department said Tuesday.

The contract consists of five 12-month ordering periods.

Raytheon will perform work in Israel and in Arizona, Arkansas, Connecticut, Iowa, Massachusetts and Missouri through December 2020.

The munition is launched from the expeditionary fire support system to target an object using a global positioning system guidance.

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