Raytheon Technologies (NYSE: RTX) has won a potential $375M contract to help the U.S. Air Force develop a miniature self-defense missile technology.
The company will perform research and development work to provide the service branch with a missile ready for flight tests, the Department of Defense said Tuesday.
The Air Force Research Laboratory received two offers for the the indefinite-delivery/indefinite-quantity contract via a competitive acquisition process.
Work will take place in Tucson, Ariz., through October 2023. Raytheon Technologies will receive $93.4M for the contract's initial task order, with an initial obligation of $26.7M in fiscal 2020 R&D, test and evaluation funds.