Raytheon‘s (NYSE:RTN) missile systems business has received aÂ $302.4 million modification under a foreign military sales contract with theÂ U.S. Navy to manufacture air-air-to-ground missileÂ systems for Saudi Arabia.
The Defense Department said Tuesday the modification covers the procurement ofÂ 618Â AGM-154 Block III C Joint Standoff WeaponsÂ along with containers, spares, support equipment and engineering assistance services.
JSOW glide missiles are equipped with an integrated global positioning and inertial navigation system and a thermal imaging infrared seeker technology.
DoD noted the Navy is obligating $148.2 million inÂ FMS funds at the time of modification award.
The company is scheduled to finish work under the modification in June 2022.