Raytheon (NYSE: RTN) secured a $91.9M contract option to provide round packs and spare parts for the Rolling Airframe Missile‘s Block 2 variant to the U.S. Navy.
The company served as co-developer of a guided missile weapon system through an international cooperative program that aims to defend naval platforms against anti-ship warheads, the Department of Defense said Wednesday.
Raytheon, based in Waltham, Mass., shares RAM development, production and maintenance costs with German defense contractors LFK, DBD and RAMSYS. Naval Sea Systems Command is the contracting agent and will use the Navy’s fiscal 2019 weapons procurement funds on the exercised option.
Contract work will be performed in Arizona, Virginia, Texas, Ohio, Massachusetts, Germany, Scotland and other U.S. locations through November 2021. The Navy awarded Raytheon’s missile systems business in May 2018 to produce updated RAMs for the military service and foreign military sales customers.
