Raytheon Awarded $94M to Continue Navy Weapon System Support

Raytheon Technologies (NYSE: RTX) has received a $93.55 million contract modification from the U.S. Navy to continue the company’s modernization, conversation and overhaul support for the MK15 close-in weapon system.

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The company’s missiles and defense unit is helping the service branch update CIWS and associated hardware, the Department of Defense said Wednesday.

The weapon, also known as Phalanx, is installed on surface combatant ships of the Navy and 24 U.S. allies, according to Raytheon.

Naval Sea Systems Command will obligate the full amount of the award and expects work to conclude by September 2026.

The Raytheon Missiles & Defense business was initially awarded a $344.4 million contract in June 2021 original contract for support services to MK15 systems owned by U.S. and South Korean navies.

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