Raytheon Books $972M Award to Modernize AMRAAM Weapons for US Military, Allies

Raytheon Technologies (NYSE: RTX) business has received a $972 million contract to manufacture updated systems of the Advanced Medium Range Air-to-Air Missile for the U.S. Air Force, the U.S. Navy and 19 foreign countries.

This contract marks the first award for the production of AIM-120D3 and AIM-120C8 AMRAAMs the company has developed under the USAF’s Form, Fit, Function Refresh initiative, Raytheon Missiles & Defense said Tuesday.

The program calls for hardware and software updates meant to address obsolescence and increase weapon performance. Specifically, the missile’s multiple circuit cards, guidance section and legacy components will go through modernization.

Forty-two percent of the total contract value will come from the foreign military sales customers. These are Australia, Bahrain, Bulgaria, Canada, Denmark, Finland, Hungary, Italy, Japan, Korea, Netherlands, Norway, Qatar, Saudi Arabia, Singapore, Slovakia, Spain, Switzerland and the U.K.

The award follows the live-fire testing of the AIM-120D3 in June and precedes two other AMRAAM live-fire testings scheduled this year.

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