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  • Friday, November 22, 2024

Raytheon Receives $321M Army Missile Production Contract

Raytheon Technologies (NYSE: RTX) has received a five-year, $320.67 million contract to manufacture man-portable, air defense systems for the U.S. Army.

The company will provide Stinger missile production services to the branch over a five-year contract period that runs through June 2026, the Department of Defense said Monday.

Army Contracting Command received one bid for the firm-fixed-price contract via an online solicitation and will obligate funds with each order.

Four U.S. military branches and 19 foreign countries bought the Stinger weapon to help ground troops defend against aerial threats, with more than 270 intercepts recorded to date, according to Raytheon.

In 2019, the Army began updating its Stinger missiles to include proximity fuze technology intended to destroy enemy unmanned aircraft systems.

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