Raytheon nails down $96 million Navy missile contract
The U.S. Navy will pay Raytheon Missile & Defense in Tucson $96 million to maintain and recertify a key ship-defense missile system.
The contract finalizes terms, specifications and price for work that will support the Evolved SeaSparrow Missile (ESSM) and the NATO SeaSparrow Missile Systems program.
Begun in 1968, the NATO program is a partnership of 12 countries, including the U.S., that works to develop an effective defense against anti-ship missiles.
ESSM is the latest SeaSparrow iteration to be developed by the consortium.
Raytheon must complete the work, 90% of which will occur in Tucson, by December, but additional options could extend the agreement to the end of 2025.