Hello, Guest!

Raytheon Secures $624M Contract to Restock Army Stinger Missiles; Wes Kremer Quoted

Raytheon Technologies‘ (NYSE: RTX) missiles and defense business will manufacture 1,300 anti-aircraft weapons for the U.S. Army under a four-year, $624 million contract.

The company said Friday that funds for the order will come from an emergency spending package that offers additional aid to Ukraine and seeks to replenish the U.S. weapons stockpile.

“We’re aligned with the U.S. Army on a plan that ensures we fulfill our current foreign military sale order, while replenishing Stingers provided to Ukraine and accelerating production,” said Wes Kremer, president of Raytheon Missiles & Defense.

The order includes engineering support, test equipment and services necessary for the military branch to manage system obsolescence or update key components.

A Department of Defense award notice says contract work has an estimated completion date of June 30, 2026.

Video of the Day

Related Articles