After a slow start to the week Monday, Department of Defense contracts are rolling out with increasing speed as the week progresses. Worth a combined $621 million, 13 contracts were awarded on Tuesday and 25 on Wednesday.
One of the bigger winners in the race to land contracts yesterday was Raytheon (NYSE:RTN), which came away with two contract wins worth a combined $58.1 million -- about 9% of the total.
Of the two contracts Raytheon won, the smaller award took the form of a $7.5 million indefinite-delivery, firm-fixed-price contract to supply the U.S. Army with hardware components to support the Multiplexer Integration And Digital Communications Satellite Subsystem (DCSS) Automation System. Known by the overarching acronym "MIDAS," this system is designed to improve and expand military tactical satellite communications.
The larger contract, for $50.6 million, was a fixed-price-incentive, firm fixed-price, cost-reimbursement contract to supply the Air Force with 19 D-RAPCON deployable air traffic control systems, which can be used to control air traffic at remote battlefield or disaster area sites. Raytheon is expected to deliver all 19 systems by Dec. 2016.
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