Raytheon awarded $115.5 M Phalanx upgrade contract
The U.S. Navy awarded Raytheon Company (NYSE: RTN) a $115.5 million contract to remanufacture, overhaul and provide upgrades to Phalanx Close-in Weapon Systems (CIWS). The CIWS is an integral element of the Navy's Fleet Defense In-Depth concept and the Ship Self-Defense Program.
Work under the contract, which was signed during the second quarter 2014, is expected to be completed by September 2017.
Global Shipborne Radar Market, Forecast to 2021
Close-in Defense Solutions
Phalanx is a rapid-fire, computer-controlled radar and 20 mm gun system that automatically acquires, tracks and destroys enemy threats that have penetrated all other ship defense systems. More than 890 systems have been built and deployed in navies around the world.
Intended to enlarge Phalanx's keep-out range against evolving anti-ship missiles, rotary- and fixed-wing aircraft and other threats, SeaRAM Anti-ship Missile Defense Systems use advanced Phalanx Block 1B sensors and replaces the gun with an 11-round Rolling Airframe Missile guide. SeaRAM is aboard the Independence-class of the U.S. Navy's Littoral Combat Ships.
Source : Raytheon Corporation (NYSE: RTN) - view original press release
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