The U.S. Army has selectedÂ Raytheon (NYSE: RTN) to build a new radar technology for the service branch’s Patriot missiles under a $384M initial firm-fixed-price contract, Bloomberg reported Thursday.
The Army usedÂ an âother transaction authorityâ procedure for the award coveringÂ delivery and testÂ of six Lower Tier Air and Missile Defense Sensor prototypes over a three-year period.
Thomas Kennedy, Raytheon CEO and 2019 Wash100 winner, said atÂ a Morgan Stanley conference last monthÂ the Army soughtÂ a radarÂ that could counter emerging threats and âallow the Patriot system to continue to live on another 40 years.â
The Waltham, Mass.-based defense company submitted its LTAMDS proposal in July and said its proposed system employs a gallium nitride-based active electronically scanned array radar.
According to Raytheon, it worked with six technology suppliers as part of its contract pursuit. Those companies are Crane Aerospace & Electronics, Cummings Aerospace, IERUS Technologies, Kord Technologies, Mercury Systems and nLogic.