Hello, Guest!
  • Thursday, April 25, 2024

Raytheon Gets $482M Contract to Update Close-in Weapon Systems for US, Foreign Clients


Raytheon (NYSE: RTN) has received a potential six-year, $482.3M contract to update MK 15 Close-in Weapon Systems for the U.S. Navy and the U.S. Army as well as the governments of Taiwan, Saudi Arabia, Japan, New Zealand and Australia.

The company will also overhaul systems and provide hardware for the CIWS platform used to defend against anti-ship missile threats, the Defense Department said Thursday.

The Army will obligate $415.7M at the time of award, with $66.6M of the obligated funds slated to expire by the end of the current fiscal year.

DoD noted the contract, which includes a no-cost option, was awarded on a sole-source basis and work will occur at various locations across the U.S. through April 2024.

CIWS is designed to automatically detect, analyze, track and engage ASM and high-speed aircraft threats. The Navy and 24 U.S. allies use the system on surface combatant ships.

Video of the Day

Related Articles

Government Representatives Debate Readiness of GenAI for Usage Artificial Intelligence

Government Representatives Debate Readiness of GenAI for Usage

Like many government agencies, the Department of Homeland Security’s U.S. Customs and Border Protection manages petabytes of data flowing through it every day. They perform an estimated 50 billion data exchanges and 10 billion transactions daily. This also means there are roughly 100 million cyber attack attempts per day on their network, according to CBP

General Atomics Unit Books $53M Army Gray Eagle Sustainment Contract Contract Awards

General Atomics Unit Books $53M Army Gray Eagle Sustainment Contract

General Atomics’ aeronautical systems business unit has secured a $52.9 million contract to help the U.S. Army sustain its fleet of MQ-1C Gray Eagle unmanned aircraft systems. Under the five-year contract, General Atomics Aeronautical Systems will perform sustainment and logistics support for Gray Eagle at its facility in Poway, California, the Department of Defense said

Investigating the US Army’s FY2025 Budget Proposal DOD

Investigating the US Army’s FY2025 Budget Proposal

The U.S. Army wants $186 billion in spending power for fiscal year 2025, a figure which has not yet been approved. The budget includes funds for nine barracks construction projects, an increased focus on fitness facilities and routine upticks in pay for soldiers. It has also been assembled with an eye toward responding to “aggression in