Home / Contract Awards / Navy Awards Raytheon $367M Close-In Weapon System Modernization Contract

Navy Awards Raytheon $367M Close-In Weapon System Modernization Contract

Jeff Brody

Raytheon (NYSE: RTN) has secured a potential four-year, $367.2M contract from the U.S. Navy to update a radar-guided missile defense system and related hardware for domestic and foreign military customers.

The sole-source contract has a $199.6M base value and includes system overhaul work on the Phalanx MK 15 Close-In Weapon System designed to detect and counter incoming anti-ship missiles, the Department of Defense said Friday.

Fiscal 2019 U.S. Army and Navy funds as well as foreign military sales funds from the U.K. and Saudi Arabia will be obligated to cover the firm-fixed-price contract’s base amount.

The Pentagon expects contract work to be complete by October 2023. CIWS is a computer-controlled gun used on Navy surface combatant ships and on similar vessels of 24 U.S. allies. The Army uses the system on ground to counter incoming rounds.

Check Also

FCC, Industry Mark Commercial Deployment of Shared-Spectrum Wireless Connectivity Service

The Federal Communications Commission has authorized the Citizens Broadband Radio Service Alliance to roll out an LTE-based wireless connectivity service in the 3.5 GHz spectrum.

Perspecta Labs Recognized for Cybersecurity Innovations Under DARPA Program; Mac Curtis Quoted

Perspecta's (NYSE: PRSP) applied research arm has been selected to receive a 2019 Industry Innovator award for introducing three cybersecurity technology platforms through the Defense Advanced Research Projects Agency’s Rapid Attack Detection, Isolation and Characterization Systems program.