Raytheon Technologies Lands $453M USAF Aircraft Engine Modernization Contract

Raytheon Technologies (NYSE: RTX) has secured a potential nine-year, $453M contract to help the U.S. Air Force modernize aircraft engines.

The company will develop engineering modifications, design support equipment, perform repair work, address identified deficiencies and support engine service life maintenance or extension as part of USAF's Component Improvement Program, the Department of Defense said Wednesday.

Work under the sole-source contract will take place in East Hartford, Connecticut, through Dec. 31, 2029.

The AF Life Cycle Management Center is the contracting activity and the service branch will obligate $557,347 in fiscal 2020 research, development, test and evaluation funds at the time of award.

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