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Raytheon to Engineer Seasparrow Missiles Under $362M Navy Contract

Raytheon Technologies (NYSE: RTX) has received a potential $362.4 million contract from the U.S. Navy to provide engineering and technical services supporting the Evolved Seasparrow Missile and NATO Seasparrow Missile Systems programs.

The cost-plus-fixed-fee and cost-only contract has a base value of $105.8 million and involves purchases from the Navy and Foreign Military Sales program customers, the Department of Defense said Tuesday.

The Seasparrow is a short-range, surface-to-air weapon system usually launched from ships to defeat missile and aircraft threats. Meanwhile, ESSM is the upgraded version of the Seasparrow developed by the U.S. and 11 other countries.

Raytheon will perform work under the non-competitive contract in various locations, primarily at its Tucson, Arizona-based site and other locations in Rhode Island, Massachusetts, California, Spain, Australia and Greece.

In addition to the Navy, support services will be provided to Japan, Thailand, United Arab Emirates and South Korea.

The company is expected to complete its contractual obligations by December, with options to extend its work through the end of 2025 to reach the contract’s potential value.

The Naval Sea Systems Command obligated fiscal 2021 Navy operation and maintenance, other procurement, research, development, test and evaluation funds; fiscal 2020 and 2021 other customer funds; and FMS funds worth over $17 million at the time of award.

Raytheon is the manufacturer of both Seasparrow and ESSM missiles.

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