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Raytheon Awarded $269M Modification on Navy ESSM Block 2 Contract

Raytheon Technologies (NYSE: RTX) has received a $269 million contract modification for full-rate production services to the U.S. Navy’s Evolved Seasparrow Missile system modernization program.

Naval Sea Systems Command issued the firm-fixed-price modification, as part of a potential $1.28 billion fiscal 2021-2023 ESSM Block 2 contract announced in September, the Department of Defense said Wednesday.

Raytheon said in October it would provide up to 724 updated missiles for the U.S. and nine of the NATO Seasparrow Project Office’s 11 member nations.

The ESSM Block 2 weapon system is designed to launch from ships and equipped with a dual-mode X-band seeker to help defend against incoming missile and aircraft threats.

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