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Raytheon Co. (NYSE: RTN) has had a busy week, scoring more than a billion dollars in contracts for missile and missile defense hardware and services.
The flurry of awards was capped off Thursday by the Waltham, Massachusetts company’s announcement that it won a $600 million contract to upgrade the Patriot missile defense system of an "undisclosed member of the 13 nations" that use the system, a company press release stated.
Enlarge Raytheon Co.'s Patriot missile defense system built to "configuration three-plus."
This design includes by digital radars,upgraded software.it also has a modern adjunct
processor-a commercial off-the-self chessis equipped with 30inch color touch screens.
RAYTHEON
About 4,000 of Raytheon’s 61,000 employees work in the Greater Washington area.
While Raytheon didn’t name the customer, the 13 countries include the U.S., the Netherlands, Germany, Japan, Israel, Saudi Arabia, Kuwait, Taiwan, Greece, Spain, South Korea, the United Arab Emirates and Qatar. Raytheon will soon add Poland to that growing list. Raytheon didn't disclose who made the purchase at the customer's request.
On Wednesday evening, the Pentagon also announced that the company won several contracts in the area of missile and missile defense, totaling another $534.1 million.
The largest of those awards was a $303.7 million contract for 214 Tomahawk missiles for the U.S. Navy and the U.K. The company also won a $208 million contract to sell Stinger FIM-92H missiles and related equipment to Qatar, India and Italy. Rounding out the contracts is a $22.5 million option for Excalibur 155 millimeter increment projectiles.
Of all these contracts, the Patriot missile upgrade is perhaps the most significant, and not just because it carries the highest price tag.
Under this contract, Raytheon will upgrade the undisclosed country’s Patriot system to “configuration three-plus” — which means digitizing the radar and upgrading the software. This will give the missile defense system a better ability to intercept and destroy tactical ballistic missiles.
It also will allow for the system to be equipped with Lockheed-built Patriot Advanced Capability-3 (PAC-3) missile segment enhancements (MSE) — an upgrade to PAC-3s built with increased range and mobility. Currently only two countries use PAC-3 MSEs, the U.S. and Qatar. But Lockheed Martin Corp. (NYSE: LMT) is in talks with several countries about pursuing MSE sales.
This win comes just a couple months after Raytheon won a $225 million contract with another “undisclosed” customer to upgrade its Patriot systems.And that win followed a September request by Poland to buy Raytheon’s system.
Also over the summer, Raytheon won a $523.4 million contract to modernize Kuwait’s Patriot.
Raytheon leads the defense industry in international sales as a percentage of revenue. Foreign customers make up close to a third of the company’s revenue and more than 40 percent of its backlog.
An increased demand for missile defense — spurred by fears of a resurgent Russia — has bolstered Raytheon’s international sales pitch. Currently, the company is sparring with Bethesda-based Lockheed to sell these systems to NATO allies.
James Bach covers federal contracting.
http://www.bizjournals.com/washingt...snags-more-than-1-billion-in-missile-and.html
The flurry of awards was capped off Thursday by the Waltham, Massachusetts company’s announcement that it won a $600 million contract to upgrade the Patriot missile defense system of an "undisclosed member of the 13 nations" that use the system, a company press release stated.
Enlarge Raytheon Co.'s Patriot missile defense system built to "configuration three-plus."
This design includes by digital radars,upgraded software.it also has a modern adjunct
processor-a commercial off-the-self chessis equipped with 30inch color touch screens.
RAYTHEON
About 4,000 of Raytheon’s 61,000 employees work in the Greater Washington area.
While Raytheon didn’t name the customer, the 13 countries include the U.S., the Netherlands, Germany, Japan, Israel, Saudi Arabia, Kuwait, Taiwan, Greece, Spain, South Korea, the United Arab Emirates and Qatar. Raytheon will soon add Poland to that growing list. Raytheon didn't disclose who made the purchase at the customer's request.
On Wednesday evening, the Pentagon also announced that the company won several contracts in the area of missile and missile defense, totaling another $534.1 million.
The largest of those awards was a $303.7 million contract for 214 Tomahawk missiles for the U.S. Navy and the U.K. The company also won a $208 million contract to sell Stinger FIM-92H missiles and related equipment to Qatar, India and Italy. Rounding out the contracts is a $22.5 million option for Excalibur 155 millimeter increment projectiles.
Of all these contracts, the Patriot missile upgrade is perhaps the most significant, and not just because it carries the highest price tag.
Under this contract, Raytheon will upgrade the undisclosed country’s Patriot system to “configuration three-plus” — which means digitizing the radar and upgrading the software. This will give the missile defense system a better ability to intercept and destroy tactical ballistic missiles.
It also will allow for the system to be equipped with Lockheed-built Patriot Advanced Capability-3 (PAC-3) missile segment enhancements (MSE) — an upgrade to PAC-3s built with increased range and mobility. Currently only two countries use PAC-3 MSEs, the U.S. and Qatar. But Lockheed Martin Corp. (NYSE: LMT) is in talks with several countries about pursuing MSE sales.
This win comes just a couple months after Raytheon won a $225 million contract with another “undisclosed” customer to upgrade its Patriot systems.And that win followed a September request by Poland to buy Raytheon’s system.
Also over the summer, Raytheon won a $523.4 million contract to modernize Kuwait’s Patriot.
Raytheon leads the defense industry in international sales as a percentage of revenue. Foreign customers make up close to a third of the company’s revenue and more than 40 percent of its backlog.
An increased demand for missile defense — spurred by fears of a resurgent Russia — has bolstered Raytheon’s international sales pitch. Currently, the company is sparring with Bethesda-based Lockheed to sell these systems to NATO allies.
James Bach covers federal contracting.
http://www.bizjournals.com/washingt...snags-more-than-1-billion-in-missile-and.html
