
The Army has selected Raytheon [RTN] to deliver the next-generation Lower Tier Air and Missile Defense Sensor to replace the Patriot defense system’s current radar, the company said on Thursday. Raytheon, which builds Patriot and its current radar, beat out Northrop Grumman [NOC] and Lockheed Martin [LMT] for LTAMDS, receiving an initial deal worth upward of $384 million to deliver six production representative systems. "Our clean-sheet approach to LTAMDS reinforces Raytheon's position as the world's premier air and missile defense…