Raytheon Receives USD 51M Contract for Patriot Missile Upgrades
Raytheon Company (NYSE: RTN) has been awarded a $51.3 million contract to upgrade Patriot Advanced Capability-2 missiles to the Guidance Enhanced Missile-Tactical (GEM-T) configuration. The U.S. Army Aviation and Missile Command (AMCOM), Redstone Arsenal, Ala., issued the contract as a follow-on to AMCOM's Patriot missile continuous technology refreshment program initiated in 2000.
"Patriot is the cornerstone of many nations' air and missile defense capabilities, and in today's budget-conscious environment, we are able to offer the U.S. and our global partner base a cost-effective upgrade option for the most advanced combat-proven system in the world," said Sanjay Kapoor, vice president for Integrated Air and Missile Defense at Raytheon's Integrated Defense Systems business.
Global Missile Market 2015-2019
The Patriot GEM-T missile upgrades include the replacement of select components that increase reliability and extend the service life of the missile. GEM-T upgrades are ongoing under existing contracts with the U.S. and other Patriot partner nations, and are performed at Raytheon's Integrated Air Defense Center in Andover, Mass.
Patriot is the world's most capable air and missile defense system, protecting against a full range of advanced threats, including aircraft, tactical ballistic missiles, cruise missiles and unmanned aerial vehicles. It is the system of choice for 12 nations around the globe.
Raytheon is the prime contractor for both domestic and international Patriot Air and Missile Defense Systems and system integrator for Patriot Advanced Capability-3 missiles.
Source : Raytheon Corporation (NYSE: RTN)
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