Raytheon Receives $406 Mln US Navy Contract For Radar Production

(RTTNews) - Raytheon Co. (RTN) said it has received a $406 million U.S. Navy multi-year contract to provide AN/SPY-1 radar transmitters and MK99 Fire Control Systems for the AEGIS program.

Both critical components of the weapon system, the AN/SPY-1 radar and MK99 perform the search, track and missile guidance functions for AEGIS, the shield of the U.S. Navy Fleet. The contract was awarded in Raytheon's third quarter.

Raytheon stated that its AN/SPY-1 radar transmitter and MK99 Fire Control System have been in continuous production for 32 years as part of the Navy's AEGIS shipbuilding program, sustaining this critical system.