Raytheon secures $32.5 million contract for missile defense system

Investing.com -- Raytheon (RTX)(NYSE: RTX) Missiles and Defense has been awarded a $32.5 million firm-fixed price contract to provide medium range intercept capability (MRIC) components for the U.S. Marine Corps.

The contract covers the purchase of 44 sets of long lead items for full rate production of the MRIC system, along with additional components for spares and upgrading previously procured prototype systems.

Work on the contract will be performed entirely in Tucson, Arizona, with final delivery expected by November 22, 2027.

At the time of the award on May 22, 2025, the Marine Corps obligated $400,000 in funding, consisting of $381,696 from fiscal 2023 procurement funds and $18,304 from fiscal 2025 procurement funds.

The contract was awarded as a sole source acquisition by Marine Corps Systems Command in Quantico, Virginia.

In a separate development, RTX BBN Technologies Inc., based in Cambridge, Massachusetts, received a $33.7 million cost-plus-fixed-fee contract for the Apex Gear Drive project. This work involves data refinement, integration and visualization enhancements for air plan environments.

The Air Force Research Laboratory in Rome, New York, awarded this competitive contract with completion expected by October 22, 2027. The Air Force has obligated $397,085 in research, development, test and evaluation funds for this project.

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