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  • Friday, November 22, 2024

Raytheon Secures $304M Navy Contract for Tomahawk Block IV Cruise Missile Production


Raytheon (NYSE: RTN) has been awarded a $303.7 million contract to provide 214 Tomahawk Block IV vertical launch system missiles and spares to the U.S. Navy.

The company will also produce Tomahawk spares for the U.K. government under the firm-fixed-price contract, the Defense Department said Wednesday.

Work will occur at various locations in the U.S. and in Glenrothes, Scotland, through August 2018.

DoD said the full obligated amount is from the Navy’s fiscal 2015 and 2016 weapons procurement and foreign military sales funds.

Tomahawk missiles are launched from ships or submarines and designed to strike targets with minimal collateral damage at a range of more than 1, 000 miles.

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