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Raytheon Gets $523M USAF Contract Modification for Additional AMRAAM Production Work

Raytheon (NYSE: RTN) will manufacture another lot of Advanced Medium Range Air to Air Missile systems under a $523.1 million modification to a U.S. Air Force contract.

Work covers the production of lot 32 AMRAAMs and other missile system items for USAF and eight foreign military sales customers, the Defense Department said Friday.

The modification includes sales to Australia, Germany, Indonesia, Japan, Kuwait, Poland, Qatar and the U.K. under the FMS program.

USAF will obligate $308 million in fiscal 2018 production funds, $3.6 million in research and development funds and $211.6 million in foreign military sales funds at the time of award.

AMRAAM is designed to support air-to-air and surface-launch missions on the F-15, F-16, F/A-18, F-22, Typhoon, Gripen, Tornado and Harrier aircraft platforms.

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