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Navy Awards Raytheon $234M Modification to ‘Over-the-Horizon’ Weapon Supply Contract

The U.S. Navy has exercised options worth $234 million under a contract with Raytheon Technologies (NYSE: RTX) for the production and delivery of an over-the-horizon weapon system for defending against targets at sea and on land.

Raytheon and its Norwegian partner Kongsberg Gruppen won the potential $847.6 million OTH-WS contract in 2018 to supply Naval Strike Missiles, launchers and components to the service branch.

The Department of Defense said Wednesday the options reflect a firm-fixed-price modification to the original award and will require work to be performed in the U.S., Norway and Germany until March 2027.

Funds for the modification will come from the Marine Corps’ fiscal 2023 procurement funds, as well as the Navy’s weapons procurement and shipbuilding and conversion budget.

The NSM employs advanced seeker and target identification technology to recognize enemies up to 100 nautical miles away.

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