Raytheon to Update Air, Missile Defense Kits for Army Under $89M Deal

Raytheon logoRaytheon (NYSE: RTN) has been awarded a potential four-year,  $89.5 million contract from the U.S. Army to integrate,  test and evaluate the military branch’s Integrated Air and Missile Defense system.

The company will also help the Army update and install AIAMD Plug & Fight A-Kits under the cost-plus-fixed-fee contract, the Defense Department said Friday.

The Army launched the IAMD Program to facilitate development of a system-of-systems capability for all air defense components of the service branch.

The Army Contracting Command will provide funds and performance location to Raytheon upon issuance of each order and the company is scheduled to complete work May 1, 2020.

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