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Missile Defense

Raytheon Wins $2.3 Billion Army Contract For International Patriot Upgrades And Refresh

Thursday, February 1st, 2018

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Raytheon Wins $2.3 Billion Army Contract For International Patriot Upgrades And Refresh

Lockheed Martin's PAC-3 missile, part of the Patriot air defense capability. (Photo: Lockheed Martin)

The U.S. Army awarded Raytheon [RTN] a $2.3 billion contract on Tuesday for engineering services to support the Patriot missile defense systems to support software and refresh obsolescence in both U.S. and partner international systems.This hybrid cost-plus-fixed-fee, firm-fixed-price and level-of-effort contract will divide work locations and funding based on individual orders. The total work is expected to be finished by January 2023.Raytheon clarified that these system upgrades will be funded by the 14 countries that use Patriot for integrated air…

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