Raytheon wins $693M contract

Raytheon won a $692.9 million U.S. Army contract to produce Sweden's Patriot Integrated Air and Missile Defense System including spare parts, support and training.

The solution is a missile defense system consisting of radars, command-and-control technology and multiple types of interceptors, all working together to detect, identify and defeat tactical ballistic missiles, cruise missiles, drones, advanced aircraft and other threats.

The contract calls for Raytheon to build and deliver an undisclosed quantity of Patriot fire units and GEM-T interceptor missiles.

"Sweden's Patriot procurement will provide joint training opportunities for the Swedish and U.S. armed forces, and enhance military interoperability," said Tom Laliberty, vice president of Integrated Air and Missile Defense at Raytheon's Integrated Defense Systems business.”