Raytheon secures $271 million contract for TOW missile production

Investing.com -- Raytheon (NYSE: RTX) Missile and Defense has been awarded a $271,377,812 contract modification for the production of the Tube-Launched Optically Tracked Missile Weapon System, the U.S. Department of Defense announced Monday.

The contract includes the TOW Obsolescence and Safety 2B missile variant and will be performed in Tucson, Arizona, with completion expected by February 29, 2028.

The Army Contracting Command at Redstone Arsenal, Alabama, is overseeing the contract, which is funded by a combination of fiscal 2023 and 2024 missile procurement funds totaling $137,338,102, along with fiscal 2023, 2024, and 2025 other procurement funds amounting to $134,039,710.

In a separate award, Raytheon Co. in McKinney, Texas, received an $8,489,501 firm-fixed-price delivery order for the repair of nine APY-10 radar system weapon repairable assemblies used on P-8A aircraft. This work will be divided between McKinney, Texas, and Jacksonville, Florida, with completion expected by May 2027.

The radar repair contract is funded by fiscal 2025 Navy working capital funds. The Naval Supply Systems Command Weapon Systems Support in Philadelphia is managing this contract, which was awarded on a sole-source basis under 10 U.S. Code 3204 (a)(1).

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