Raytheon Awarded $2.1B Army Contract for LTAMDS Low-rate Initial Production

An RTX (NYSE: RTX) business has secured a U.S. Army contract worth $2.1 billion for low-rate initial production of the Lower Tier Air and Missile Defense System.

The Department of Defense said Wednesday Raytheon will perform contract work at its Andover, Massachusetts location over a four-year period.

LTAMDS is a radar intended to defeat hypersonic weapons and other advanced and next-generation threats. It features three antenna arrays designed to work together to simultaneously detect and engage multiple threats from any direction.

Production is expected to run through Nov. 30, 2028.

The Army obligated $815.9 million in combined fiscal 2024 foreign military sales and research, development, test and evaluation funds at the time of the award.

Raytheon was the sole bidder for the fixed-price-incentive contract, which was solicited online by the Army Contracting Command.

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