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Air Force Exercises $483M Option on Raytheon AMRAAM Production Contract

Raytheon Technologies (NYSE: RTX) has received a $482.9 million contract modification from the U.S. Air Force to manufacture lot 35 Advanced Medium Range Air-to-Air Missiles for domestic and international defense customers.

The award exercises pre-priced options on an existing contract for the production of AMRAAMs, telemetry systems and spares, the Department of Defense said Wednesday.

Canada, South Korea, the Netherlands and Qatar collectively account for 28 percent of the purchases under the modification.

Raytheon’s missiles and defense business will perform work in Tucson, Arizona, through May 31, 2024.

The Air Force Life Cycle Management Center in Florida is obligating funds from USAF, Navy and Army and foreign military sales accounts for the procurement effort.

In March, the company received a $518.4 million contract for lot 34 AMRAAM production services.

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