Raytheon to Update, Support Canada's Radar-Guided Naval Weapon Systems Under Potential $572M Contract

Raytheon (NYSE: RTN) has received a potential 20-year, $572.3 million contract to modernize and support the Canadian armed forces’ radar-guided weapon systems designed to engage aircraft, missiles and small ship threats.

The Canadian government said Friday work will include updates to 21 Close-In Weapon Systems that currently support the Canadian navy’s Halifax-class frigates and will be integrated on the future Protecteur-class vessel.

“Today™s announcement is aligned with the goals we set out in Strong, Secure, Engaged “ we are making strategic investments in the Royal Canadian Navy that will help protect our sailors as they conduct the full spectrum of operations in a modern security environment,” said Harjit Sajjan, Canadian minister for national defense.

CIWS currently supports 24 nations and Canada aims to utilize developments to the system made by ally users.

Raytheon’s Canada-based arm has committed to collaborate with small- and medium-sized businesses in the country to fulfill research and development requirements under the contract.

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