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Raytheon Books $150M Contract for UK ISR Aircraft Fleet Expansion, Modernization

Raytheon Technologies (NYSE: RTX) has secured an approximately $150.2 million contract to expand and modernize the British air force’s fleet of intelligence, surveillance, target acquisition and reconnaissance aircraft.

The U.K. defense ministry said Wednesday the company will deliver two planes to increase the current six-aircraft fleet for ISTAR missions under the Shadow Mk2 Upgrade Program.

As part of the contract, Raytheon will also equip the aircraft with an updated defensive aids suite and the ministry expects the Royal Air Force to receive the first modernized Shadow in June 2023.

The company will aim to complete the orders by 2025. Work will take place in Broughton, Waddington and Harlow.

According to the ministry, the project could generate 150 jobs in North Wales and sustain 350 more across the U.K. supply chain.

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