Raytheon Technologies (NYSE: RTX) has won a potential $1.2 billion contract from the U.S. Army for Patriot Missile System fire units.
Army Contracting Command received two offers for the firm-fixed-price contract and obligated the whole contract amount using foreign military sales funds for fiscal year 2023, the Department of Defense said Tuesday.
Work will occur in Massachusetts, Missouri, New Hampshire, New Mexico, Pennsylvania, Germany and Switzerland through Dec. 31, 2032.
Raytheon’s missiles and defense unit has produced and delivered more than 240 Patriot fire units to customers in 17 countries. The Global Patriot Solutions missile defense system consists of radars, a command-and-control platform and interceptors designed to detect and counter cruise missiles, drones and tactical ballistic missiles.