RTX's Raytheon Bags $525 Mln Contract From US Navy

(RTTNews) - Raytheon, an RTX Corp. (RTX) business, announced on Monday that it has bagged a $525 million contract from the U.S. Navy to produce ESSM Block 2 missiles and spares for the U.S. and allied countries.

ESSM Block 2 is a short to medium-range, ship-launched, dual-mode, guided missile that has increased maneuverability and improved performance over its Block 1 predecessor.

"The newest ESSM variant reduces dependence on shipboard illumination and is integrated on a wide variety of combat systems and launchers, delivering improved performance in stressing marine environments, and has significant digital processing margin to keep pace with evolving threats through software improvements," RTX said.