Raytheon (NYSE: RTN) has received a potential $634.2 million contract from the U.S. Air Force to provide advanced medium-range air-to-air missiles to the service branch and 10 foreign military sales customers.
The fixed-price-incentive-firm-target contract is for lot 31 of AMRAAM systems composed of missiles, spares and telemetry kits, the Defense Department said Thursday.
DoD noted the contract involves $219,6 million in total FMS transactions with Bahrain, Indonesia, Japan, Korea, Morocco, Poland, Qatar, Romania, Spain and Turkey.
The Air Force is also obligating $409.9 million in fiscal 2017 production funds; $2.9 million in research and development funds ;and $1.7 million in operations and maintenance funds at the time of award.
Raytheon’s missile business will perform contract work through Jan. 31, 2020.