Market Overview

Raytheon Wins $72M Navy Contract For MK-31 Guided Missile Program


Raytheon Company's (NYSE: RTN) Missile Systems unit recently secured a $72.2-million modification contract to provide engineering services for the upgraded Rolling Airframe Missile (RAM) MK-31 Guided Missile Weapon System Improvement program. The contract was awarded by the Naval Sea Systems Command, Washington, DC.

Per the agreement, Missile Systems unit will provide support for the maintenance of current weapon system capability. Additionally, the unit will resolve issues through design, systems, software maintenance, reliability, maintainability, quality assurance and logistics engineering services. Majority of the contract-related work will be executed in Tucson, AZ, which is scheduled to get completed by September 2022.

The MK-31 RAM Guided Missile Weapon System is a cooperative development and production program, conducted jointly by the United States and Germany. Manufactured by Raytheon, this weapon system is one of the most modern self-defense weapon systems, deployed from ships, to destroy anti-ship missiles. It has been specifically designed to provide protection to ships of all sizes.

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The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

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