Raytheon Secures $600M Intl Patriot Missile Defense System Upgrade Contract

Raytheon (NYSE: RTN) has received a contract worth approximately $600 million to update the Patriot integrated air and missile defense system of an unidentified country.

The company said Thursday the direct commercial sales contract covers Configuration 3+ Post Deployment Build 8 software and hardware suite.

Altogether, the 13 countries that own and operate Patriot have invested more than $7.8 billion to procure and update the system since December 2014.

This latest Patriot configuration works to support the use of PAC-3 MSE interceptor missiles and boost the system’s capacity to destroy tactical ballistic missiles.

Poland formally requested to acquire Patriot through the U.S. government’s foreign military sales program in September.

Raytheon also holds contract to modernize Netherlands’ Patriot systems and another undisclosed customer awarded the company a $225 million contract for additional Patriot functions.

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