Raytheon Company's (NYSE: RTN) Patriot missiles, critical components of the Patriot Air and Missile Defense System, have received U.S. Army approval for a second recertification, extending the operational life of the worldwide inventory of Patriot missiles from 30 to 45 years. This extension allows customers to recertify and/or upgrade their inventory of Raytheon's Patriot missiles at a fraction of the cost of replacing them with alternative interceptors.
"This is a testament to Patriot's capabilities and combat performance that continue to exceed all expectations, now and over its successful operational life," said Sanjay Kapoor, vice president of Integrated Air and Missile Defense at Raytheon's Integrated Defense Systems business. "This significant life extension decision by the Army comes on the heels of a recent $46.7 million U.S. Army contract awarded to Raytheon to recertify and upgrade Patriot missiles to the latest GEM-T configuration as part of the continuous Patriot modernization effort."
The underlying technology and operational capability of the missiles have been continually enhanced to counter high-speed tactical ballistic missiles and air breathing threats. Over the last 20 years, Raytheon's Patriot missiles have undergone more than 500 successful test firings. Raytheon's support structure includes a global base of more than 300 suppliers committed to mission performance and readiness of the Patriot missiles.
Patriot is the world's most capable air and missile defense system, providing protection 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)
Date: Apr 2, 2013