Raytheon Company's (NYSE: RTN) new-production Patriot Air and Missile Defense System successfully launched a PAC-3 missile to engage a tactical ballistic missile (TBM) target at the White Sands Missile Range, N.M. This test was the culmination of two years of testing of the complete system, proving system performance in all environments and against all threats.
"Patriot's flawless performance only strengthens the long-standing confidence our warfighters and customers have as they rely on Patriot for the safety and security of their people. With modernized Patriot and new customers coming on board, they can now also count on their cost of ownership to go down," said Sanjay Kapoor, vice president of Integrated Air and Missile Defense for Raytheon's Integrated Defense Systems (IDS) business. "In fact, the U.S. Army's recent decision to extend the fielding of Patriot from 2040 to 2048 demonstrates its confidence in the system and its future."
Over the last two years, the modernized Patriot system has performed exceptionally in each of the challenging flight tests, receiving the U.S. Army's stamp of approval.
Source: Raytheon Company's
Date: Aug 19, 2013