The U.S. Air Force has awarded Raytheon Company (NYSE: RTN) a $573 million contract modification to exercise the option on a previously awarded contract for Advanced Medium Range Air-to-Air Missiles (AMRAAM).
Work will be performed in Tucson, Arizona, and is expected to be complete by February 2019.
AMRAAM is a combat-proven missile that has demonstrated operational flexibility in both air-to-air and surface-launch engagement scenarios and provides today's warfighter with enhanced operational capability, cost effectiveness and future growth options/solutions.
Procured by 36 countries, the combat-proven AMRAAM has been operational and integrated on the F-16, F-15, F/A-18, F-22, Typhoon, Gripen, Tornado, Harrier, F-4 and the Joint Strike Fighter aircraft. It is also the baseline missile for the National Advanced Surface-to-Air Missile System.
Raytheon Company, with 2015 sales of $23 billion and 61,000 employees, is a technology and innovation leader specializing in defense, civil government and cybersecurity solutions.
With a history of innovation spanning 94 years, Raytheon provides state-of-the-art electronics, mission systems integration, C5ITM products and services, sensing, effects, and mission support for customers in more than 80 countries. Raytheon is headquartered in Waltham, Massachusetts.