Raytheon Company RTN revealed Tuesday it was granted a $291 million contract by the U.S. Navy for production of the AIM-9X Sidewinder missile, one of the most advanced infrared-tracking, short-range, air-to-air and surface-to-air missiles in the globe.
According to Raytheon, the contract was for All Up Round Tactical Full Rate Production Lot 16 of the Block II missiles for the U.S. Navy, Air Force, Army and the governments of Japan, Norway and Taiwan.
The company said this contract modification provided for the procurement of AIM-9X Block II Captive Air Training Missiles, containers and spare components for the American Navy and Air Force, and a number of its allies.
The defense equipment maker said that most of the work would take place in Tucson, and is expected to be complete before March 2019.
Shares of the company closed Monday's trading at $139.19.
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