Raytheon Company (NYSE: RTN) was awarded a $155.6 million contract to manufacture Block 2 Rolling Airframe Missiles for delivery to the German navy. It represents the largest single RAM award by Germany. The contract was awarded in Raytheon's first quarter of 2013.
RAM is a cooperative program between the U.S. and German governments with industry support from Raytheon and RAMSYS of Germany. The contract calls for production work to be shared between both companies.
"This sale is the result of more than 35 years of unmatched testing achievements and capability improvements," said Dr. Taylor W. Lawrence, president of Raytheon Missile Systems. "It complements the $100 million RAM Block 2 production contracts with the U.S. Navy signed in 2012 and follows our company's 11 critical Block 2 development test flights. RAM is on solid footing to begin government testing in May."
Robust International Fleet Self-defense System
RAM is a supersonic, lightweight, quick reaction, fire-and-forget missile providing defense against anti-ship cruise missiles, helicopter and airborne threats, and hostile surface craft. The missile's autonomous dual-mode, passive radio frequency and infrared guidance design provides a high-firepower capability for engaging multiple threats simultaneously. RAM is aboard nearly 100 ships as an integral self-defense weapon for the navies of Egypt, Germany, Greece, Japan, Republic of Korea, Turkey, the United Arab Emirates and the United States.
The RAM Block 2 upgrade includes a four-axis independent control actuator system and an increase in rocket motor capability, increasing the missile's effective range and delivering a significant increase in maneuverability. The improved missile also incorporates an upgraded passive radio frequency seeker and a digital autopilot.
Source: Raytheon Corporation (NYSE: RTN)
Date: Apr 2, 2013