Raytheon (NYSE: RTN) has received a potential $357.8M contract to help the U.S. Navy produce and integrate air and missile defense radar systems.
Work includes combat system integration and test, depot-level maintenance field engineering and spare parts procurement efforts for the AN/SPY-6(V) radar technology, the Department of Defense said Wednesday.
The contract has an initial value of $114.1M and the base period runs through December of next year.
The Navy will obligate $46.2M at the time of award and DoD said nearly $6.9M of the obligated funds will expire at the end of the current fiscal year.
AN/SPY-6(V) is designed to help the military service counter air, surface and ballistic missile threats. The branch intends to equip the DDG-51 Flight III destroyer with the radar.