U.S., Patriot partners to invest up to $2.3 billion over 5 years in Patriottm Integrated Air and Missile Defense System
TEWKSBURY, Mass., Jan. 31, 2018 /PRNewswire/ -- Raytheon Company (NYSE: RTN) is enhancing the Patriot Air and Missile Defense System under a $235 million modernization task order from the U.S. Army.
Announced by the Department of Defense on Jan 30, the system upgrades will be funded by the 14 nations that rely on Patriot for integrated air and missile defense. This is the first of five annual, indefinite delivery/indefinite quantity task order awards with a total contract ceiling of more than $2.3 billion.
"The 14 Patriot partner nations share the cost of further improving the system through upgrades," said Tom Laliberty, vice president of Integrated Air and Missile Defense at Raytheon's Integrated Defense Systems business. "As a result, all partner nations will be able to continue outpacing and defeating even the most advanced threats."
Some of the projects Raytheon will work on include:
Developing cutting edge methods to search, detect, track, discriminate, engage, and defeat a wide range of evolving threats including tactical ballistic missiles, cruise missiles, and military aircraft.
Enhancing Patriot's ability to counter advanced electronic countermeasures.
Increasing Patriot's ability to conduct combat identification.
Improving Patriot's interoperability with higher echelon systems.
Developing advanced training aids including high fidelity virtual simulators.
Reducing Patriot's life cycle costs through modernized hardware and reliability improvements.
Raytheon's Global Patriot Solutions is the most advanced, tactical air and missile defense system in the world, providing protection against a full range of advanced threats, including aircraft, tactical ballistic missiles, cruise missiles and unmanned aerial vehicles.
About Raytheon Raytheon Company, with 2017 sales of $25 billion and 64,000 employees, is a technology and innovation leader specializing in defense, civil government and cybersecurity solutions. With a history of innovation spanning 96 years, Raytheon provides state-of-the-art electronics, mission systems integration, C5ITM products and services, sensing, effects, and mission support for customers in more than 80 countries. Raytheon is headquartered in Waltham, Mass. Follow us on Twitter.
Highlights
Underlying sales growth excluding OPM1 and Strategic Review2 of 3%.
Strong operational progress in all divisions and continued execution momentum across our 2024 strategic priorities.
Continuing to infuse our products with AI and...
Strong sales, all-time high earnings, and growing market shares due to the successful roll-out of Scania Super.?
Scania Group net sales grew by 20 percent to SEK 55.1 billion (45.8)Adjusted operating income reached SEK 8.0 billion (6.2)...
Kyocera Corporation (TOKYO:6971) today announced its consolidated financial results for the fiscal year ended March 31, 2024 ("fiscal year 2024" or the "period"), as summarized below. Complete details are available at:...
Highlights of the first quarter of 2024
Net sales amounted to SEK 31,077m (32,734). Organic sales decreased by 3.7% mainly driven by negative price. Weaker market demand resulted in lower volumes for the Group except in Latin America where increased...
First quarter 2024
3 per cent organic revenue growth (using fixed exchange rates and a comparable group structure)Net sales increased by 1 per cent to 1,299.9 MEUR (1,286.6)Net sales including the reduction of acquired deferred revenue amounted to...
Mitsubishi Electric Corporation (TOKYO: 6503) announced today its consolidated financial results for fiscal 2024 (April 1, 2023 - March 31, 2024).
The full document on Mitsubishi Electric's financial results can be viewed at the following link:...