Raytheon Awarded $276.5M to Supply Army GPS-Guided Artillery Shells

The U.S. Army has procured more 155mm Excalibur projectiles from Raytheon, a subsidiary of RTX (NYSE: RTX), under a $276.5 million modification to a previously awarded firm-fixed-price contract.

Raytheon secured a $200.2 million initial award in April 2019 to supply containerized M982A1 Excalibur Increment IB munition to soldiers.

The Department of Defense said Wednesday the service branch obligated the full amount of the modification using fiscal 2023 ammunition procurement funds.

Developed by Raytheon and BAE Systems‘ Bofors subsidiary, the Excalibur is a GPS-guided extended-range weapon that can integrate with multiple gun systems and has been updated to increase system resistance to GPS jamming.

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