Raytheon Awarded $525M Navy Contract for ESSM Block 2 Missiles

Raytheon, an RTX (NYSE: RTX) business, has secured a $525 million contract from the U.S. Navy for Evolved SeaSparrow Missile Block 2 and spares.

RTX said Monday the ESSM Block 2 missiles’ enhanced maneuverability and performance will help boost the flexibility and capability of the U.S. and allied nations’ navies.

The weapon system is a ship-launched, dual-mode, guided missile designed for short to medium-range encounters. It relies less on shipboard illumination and integrates with various combat systems and launchers.

In addition, the ESSM Block 2 comes with software updates that enable it to adapt to evolving threats.

RTX is building on knowledge from other missile systems, including Advanced Medium-Range Air-to-Air Missile and Standard Missile 6, to enhance the ESSM Block 2 and boost production.

Barbara Borgonovi, president of naval power at Raytheon, stressed the significance of the partnership. “The role of self-ship and local area defense has become increasingly important, and ESSM Block 2 delivers critical capability in this mission. By partnering with the U.S. Navy and allied navies, we’re ensuring this versatile system is ready to support our fleets around the world.”

The ESSM program is managed by the NATO SEASPARROW Consortium, composed of the U.S. and 11 other member nations. It is the largest cooperative weapons project.

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