Raytheon awarded $380 million contract for missile defense system

Investing.com -- Raytheon (NYSE: RTX) Missiles and Defense has been awarded a $380 million contract modification by the U.S. Department of Defense for Medium Range Intercept Capability (MRIC) production.

The contract modification, awarded to the Tucson, Arizona-based company, covers full rate production for the MRIC requirement. This latest award brings the total cumulative value of the contract to $412,519,000.

Work on the project will be performed in Tucson, with completion expected by August 28, 2028.

The Marine Corps Systems Command in Quantico, Virginia, which serves as the contracting activity, has obligated $70 million in fiscal 2025 procurement funds at the time of the award. These funds will not expire at the end of the current fiscal year.

The contract modification is a firm-fixed-price and cost-plus-fixed-fee undefinitized action, adjusting a previously awarded contract identified as M67854-25-C-0111.

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