Raytheon to Get $403 Million for Missile Defense Work

By Rich Smith – Jul 31, 2013 at 8:21PM

NYSE: RTN

Raytheon

X-Band radar maintenance contract for ballistic missile defense more than doubles in size.

The U.S. Department of Defense awarded 19 contracts on Wednesday, worth $3.3 billion in aggregate. One of the largest awards went to Waltham, Mass.-based Raytheon (RTN).

The contract in question, actually a "modification" of an existing indefinite-delivery/indefinite-quantity, or IDIQ, contract, requires Raytheon to continue performing software maintenance, modeling, and simulation work on, and provide engineering support for, X-Band radars used in Ballistic Missile Defense System test planning. For this work, Raytheon will be paid $402.9 million.

Raytheon will be doing this work for the U.S. Missile Defense Agency through at least Oct. 31, 2016. According to DoD, the "modification" announced today is actually larger than the original contract Raytheon won back in November 2011. The total value of this contract for Raytheon has now surpassed $710 million.

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