Raytheon Company (NYSE: RTN) has received a $2.4 billion Foreign Military Sales contract for new-production fire units of the combat-proven Patriot Air and Missile Defense System for the State of Qatar. Qatar, a new Patriot customer, now brings the total number of global Patriot customers to 13.
The acquisition is part of an Armed Services modernization and recapitalization effort announced by Qatar in March of this year. The contract includes the latest Patriot fire units featuring increased computing power and radar processing efficiency, improved man-machine interface and reduced life-cycle costs.
Patriot will be the cornerstone of Qatar's advanced Integrated Air and Missile Defense (IAMD) capability. Earlier this month, Raytheon announced a U.S. Air Force contract to provide the state of Qatar with an Air and Missile Defense Operations Center (ADOC) which will integrate U.S. air defense systems including Patriot, the Early Warning Radar, and THAAD; with European air defense systems and radars and Qatar's Air Operation Center.
"This award is yet another example of the trust countries around the world place in the combat-proven Patriot," said Dan Crowley, president of Raytheon's Integrated Defense Systems business. "As our customer base continues to grow, our global partners benefit from the shared costs for system upgrades and enhancements through Raytheon's unique Engineering Services Program. This ensures that Patriot remains at the highest level of readiness to counter current and evolving threats anywhere in the world."
Work under this contract will be performed at Raytheon's Integrated Air Defense Center, Andover, Mass.; El Paso, Texas; and Huntsville, Ala. The company is supported by a 2,700+-strong global team of Patriot system suppliers.
Patriot is the world's most modern and 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. Continually upgraded and enhanced to reflect the latest technology, Patriot is the system of choice for 13 nations around the globe.
Raytheon is the provider of Patriot Air and Missile Defense Systems, both domestically and internationally, and system integrator for PAC-3 missiles.
Source: Raytheon Corporation (NYSE: RTN)
Date: Dec 22, 2014