Raytheon Company (NYSE: RTN) received a $30.2 million contract from Rafael Advanced Defense Systems for continued development of the Stunner interceptor. Stunner is an advanced, multi-mission, multi-platform interceptor designed for integration into current and planned air and missile defense systems.
"The Stunner interceptor redefines the performance/cost value equation for terminal missile defense," said Mike Booen, vice president of Advanced Security and Directed Energy Systems for Raytheon Missile Systems. "Stunner will provide all weather, hit-to-kill performance at a tactical missile price."
Raytheon will use the funding for fabrication of the missile's subsystem hardware including safety devices and guidance electronics. The new contract will also fund flight tests and low-rate initial production of the Stunner interceptor.
"The Stunner program is an excellent example of how Raytheon partners globally," added Booen. "The interceptor will be deployed initially in Israel and will eventually provide a missile defense solution for other allied nations worldwide."
Part of the David's Sling Weapon System, Stunner is designed to defeat a variety of short-range ballistic missiles, large caliber rockets and cruise missiles.
Source: Raytheon Corporation (NYSE: RTN)
Date: Jan 9, 2012