The U.S. Army has awarded Raytheon (NYSE: RTN) a potential five-year, $95 million contract to provide engineering services the military branch’s extended-range guided artillery rounds.
Raytheon’s missile systems business will engineer 155mm Excalibur projectiles under the cost-plus-fixed-fee, firm-fixed-price contract, the Defense Department said Monday.
Work will occur through Jan. 25, 2023 and the Army Contracting Command will determine performance locations and funds with each order.
The Excalibur weapon, jointly developed by Raytheon and BAE Systems‘ Bofors subsidiary, works to help military users conduct precision strikes and integrates with various howitzer platforms.
