US Navy Awards $250 M V-22 Contract to Raytheon

(Farnborough, England, July 20, 2010) -- The U.S. Navy has awarded Raytheon Company (NYSE: RTN) a five-year, $250 million indefinite delivery-indefinite quantity contract for support of the V-22 aircraft. Tasks under the contract include V-22 avionics systems software, situational awareness software and prototype hardware, and avionics acquisition support for the customer.

"Raytheon has supported the V-22 program for more than 27 years," said Wayne Iurillo, vice president of Customized Engineering and Depot Support for Raytheon Technical Services Company LLC. "Our mission avionics software capabilities have been a key aspect of the successful development and deployment of the aircraft, and we are proud of our role in providing improved mission capabilities for the warfighter."

Source : Raytheon Corporation (NYSE: RTN)