Raytheon Lands $573M Air Force Missile Production Contract Modification

Raytheon (NYSE: RTN) has received a $573 million contract modification to produce additional Advanced Medium Range Air to Air Missiles for the U.S. Air Force.

The award exercises options for lot 30 of AMRAAM and related items, the Defense Department said Wednesday.

Raytheon will manufacture the missiles in Tucson, Arizona, through Feb. 28, 2019.

AMRAAM serves as the baseline weapon on the National Advanced Surface-to-Air Missile System and is designed to help meet warfighter requirements both in the air and on the ground.

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