Raytheon, Kongsberg to Jointly Develop ‘Over-the-Horizon’ Weapon System for Navy

TYSONS CORNER, VA, June 5, 2018 — Raytheon (NYSE: RTN) and Kongsberg Gruppen will develop a missile system designed for over-the-horizon defense of the U.S. Navy‘s littoral combat ships and frigates under a potential $847.6 million contract from the service branch, ExecutiveBiz reported Monday.

The Navy selected the companies’ Naval Strike Missile offering that features seeker and target identification technology designed to help reach land and sea targets up to 100 nautical miles away, Raytheon said Friday.

About Executive Mosaic: Founded in 2002, Executive Mosaic is a leadership organization and media company. Executive Mosaic offers highly coveted executive events, breaking business news on the Government Contracting industry, and robust and reliable content through seven influential websites and four consequential E-newswires. Headquarters are located in Tysons Corner, VA. www.executivemosaic.com

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