Raytheon Awarded $646M Hardware Production and Sustainment Contract for SPY-6 Family of Radars

Raytheon, an RTX (NYSE: RTX) business, was awarded a $646 million contract to continue producing AN/SPY-6(V) radars for the U.S. Navy. This is the fourth option exercised from the March 2022 hardware, production and sustainment contract that is valued up to $3 billion over five years.

Under this contract, the U.S. Navy will receive four additional radars, increasing the total amount of radars under contract for procurement to 42.

"SPY-6 enables the U.S. Navy to see further than they've ever seen before, providing sailors with more time to respond to detected threats," said Barbara Borgonovi, president of Naval Power at Raytheon. "This latest contract builds on our decades of experience and technical expertise in developing modular, scalable, and highly maintainable radars."

SPY-6 is one of several radar programs designed and manufactured at Raytheon's Radar Development Facility in Andover, Massachusetts, a 30,000-square foot site supporting the production of diverse types of radars for U.S. and allied forces. This vertically integrated and highly automated site is one of the most advanced in the world, with sophisticated radar testing and integration happening around the clock.

Majority of the work under this contract will take place at the Andover facility through 2028.