Raytheon Technologies (NYSE: RTX) will provide the U.S. Navy and several foreign military sale customers with guided missile assemblies as well as related equipment and spares to meet the full-rate production requirements of the Evolved Seasparrow Missile Block 2 program for fiscal years 2021 to 2023.
Deliveries will be made under a $397.7 million firm-fixed-price contract modification that runs through March 2027, the Department of Defense said Monday.
ESSM is a modernized variant of the RIM-7 Seasparrow missile and is used by the U.S. and its international allies to boost their anti-ship missile defense capabilities. The RIM-162 system is estimated to be employed through 2030 and beyond.
Raytheon will perform majority of contract work at its Tucson, Arizona location, and conduct related efforts in Australia, Canada, Denmark, Greece, Netherlands, Norway and Turkey.
The award will be funded by the weapons procurement budget of the Navy and the other customer allocation. The Naval Sea Systems Command will obligate the full contract modification amount at the time of award.