Raytheon Company (NYSE: RTN) has been awarded a $406 million U.S. Navy multi-year contract to provide AN/SPY-1 radar transmitters and MK99 Fire Control Systems for the AEGIS program. Both critical components of the weapon system, the AN/SPY-1 radar and MK99 perform the search, track and missile guidance functions for AEGIS, the shield of the U.S. Navy Fleet. The contract was awarded in Raytheon's third quarter.
"Through our long-standing role on the AEGIS program, we continue to build on our core radar expertise, consistently delivering reliable and highly-capable components to support the mission needs of naval fleets," said Kevin Peppe, vice president of Seapower Capability Systems for Raytheon's Integrated Defense Systems business. "Our history of performance is a testament to our extensive legacy of experience in the design and development of complex radars."
Raytheon's AN/SPY-1 radar transmitter and MK99 Fire Control System have been in continuous production for 32 years as part of the Navy's AEGIS shipbuilding program, sustaining this critical system. In addition to expert systems engineering services for U.S. and allied fleet-deployed systems, Raytheon also provides performance-based logistics support, including spares and repairs for AEGIS weapons systems. Development efforts are under way to introduce the latest in solid-state technologies to further improve component performance, reliability and extended service life of these systems.
Facts About Raytheon's AN/SPY-1 and MK99
This year marks Raytheon's 40th year supporting fleet defense through AEGIS system development, a legacy that began with the company's first engineering development contract for AN/SPY-1 awarded in 1973. Other facts:
The AN/SPY-1 and the MK99 are currently aboard the U.S. Navy's fleet of cruisers and destroyers, as well as Japanese Kongo-class destroyers, Spanish F-100 Alvaro de Bazan-class frigates and Republic of Korea KDX-111 King Sejong the Great-class destroyers. The AN/SPY-1 radar will also be deployed onboard the Royal Australian Navy's future Hobart-class Air Warfare Destroyer; Raytheon Australia serves as the combat systems integrator for AWD.
Source: Raytheon Corporation (NYSE: RTN)
Date: Nov 18, 2013