In a competition against two other suppliers, Raytheon Company (NYSE: RTN) was selected by the U.S. Army to provide Thermal Weapon Sights (TWS) with enhanced capabilities so soldiers can better detect and engage targets day or night. One of the key drivers behind the Army's decision was Raytheon's ability to deliver cost-effective, advanced technology.
The awards for new deliveries were made under a modification to an existing contract and have a potential value of $131 million. Under the contract, which extends the period of performance by three years, Raytheon could potentially supply more than 24,000 sights over the life of the contract. The TWS systems will be built in McKinney, Texas, the headquarters of Raytheon's Network Centric Systems (NCS) business. The thermal sights allow a soldier to spot targets at long distances through haze, dust, fog and other obscurants.
"This is just one example of how Raytheon is putting rugged lightweight thermal imaging technology in soldiers' hands to deliver clear targeting and surveillance imagery, significantly increasing survivability," said Jeff Miller, vice president of Combat and Sensing Systems in NCS. "Our troops are getting equipment with improved detection ranges and the ability to operate effectively day or night."
Since 2000, Raytheon has provided more than 65,000 sights to the Army under various contracts.
Source: Raytheon Corporation (NYSE: RTN)
Date: Oct 22, 2012