Raytheon secures $1.03 billion contract for missile defense system

Investing.com -- Raytheon (NYSE: RTX) has been awarded a $1.03 billion contract modification for the production of Lower Tier Air and Missile Defense Sensor systems, according to an announcement from the U.S. Department of War.

The modification (P00013) to contract W31P4Q-24-C-0024 covers Year Two requirements for the defense system production. This brings the total value of the contract to $1.03 billion.

Work on the project will be performed at Raytheon's facilities in Andover, Massachusetts, with completion expected by March 31, 2030.

The Army Contracting Command at Redstone Arsenal, Alabama, is overseeing the contract. At the time of the award, the U.S. Army obligated $254.57 million in fiscal 2026 procurement funds toward the project.

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