The Department of Defense announced 64 separate contract awards worth $3.51 billion Wednesday. Of these, defense contractor Raytheon (NYSE:RTN) won two:

  • a $65 million contract to perform analysis, research and development, procurement, production, sustainment, and training work for the U.S. Army Program Manager for Special Programs. Specifically, Raytheon will be doing work on 24 new Multi-Spectral Targeting Systems (MTS)-B High-Definition Infrared (HD-IR) turrets that will be installed aboard MQ-9 Reaper drones built by General Atomics. This work should be completed by May 30, 2015.
  • a $14 million delivery order instructing Raytheon to repair AN/AAS-44(V) forward-looking infrared radar (FLIR) systems installed aboard Sikorsky H-60 series helicopters for the U.S. Navy. This work should be completed by Sept. 30, 2014.

The two projects combined should result in $79 million in incremental revenues for Raytheon.