Raytheon Technologies (NYSE: RTX) and Lockheed Martin (NYSE: LMT) received separate contracts worth $116 million combined to design carrier-based, air-launched hypersonic missile systems for the U.S. Navy.
Both companies have been tasked with conducting technical maturation and development efforts under the Hypersonic Air Launched Offensive Anti-Surface program, Naval Air Systems Command said Tuesday.
The Navy aims to field a high-speed, long-range weapon system suitable for aircraft carriers and capable of supporting anti-surface warfare missions before the end of the decade.
Each award will include a preliminary design assessment of HALO propulsion technology, with the work performance period slated to conclude in December 2024.
The branch funded a project to modernize the Lockheed-built Long Range Anti-Ship Missile system currently in service with the F/A-18 and B-1B aircraft platforms while new weapon development efforts are underway.