Raytheon Co.,
the third-largest U.S. military contractor, won a two-year,
$165 million U.S. Air Force order for 387 air-to-air missiles.
The company will build the AIM-120 medium-range missiles for
the Air Force, U.S Navy, Japan and Saudi Arabia, Raytheon said in
a statement. With purchase options, the contract’s value may rise
to as much as $2 billion over the next eight years.
Raytheon factories in Andover, Massachusetts, and Tucson,
Arizona, will build the weapons. The radar-guided AIM-120 is used
on F-15 and F-16 fighter jets and will be deployed on the Joint
Strike Fighter, being developed by Lockheed Martin Corp.
The AIM-120 has stronger resistance to electronic jamming by
an enemy, Raytheon said. The weapon lets a pilot fire and leave
before a target is hit, so he can attack several targets at once.
The Air Force’s Air Armament Center Counterair Joint Systems
Program Office, which buys weapons for U.S. units and allies,
placed the order.
Rhode Island's Market Has Changed. Developers, Builders, Investors and Sellers Must Change With It.
By Emilio DiSpirito IV License Partner | Engel & Völkers Oceanside Leader | The DiSpirito…
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Shares of Lexington, Massachusetts-based Raytheon rose $1.70
to $44.60. They have gained 37 percent this year. Boeing Co. and
Lockheed Martin are the No. 1 and No. 2 U.S. military contractors.
Bloomberg News
