On September 26, U.S. Navy awarded Raytheon Company (NYSE: RTN)
3rd Oct 2014
On September 26, U.S. Navy awarded Raytheon Company (NYSE: RTN) a $251 million contract to procure Tomahawk Block IV tactical cruise missiles for fiscal year 2014 with an option for 2015.
The contract calls for Raytheon to build and deliver Tomahawk Block IV cruise missiles to the U.S. Navy and U.K. Royal Navy. Raytheon will also conduct flight tests and provide life-cycle support. Production and delivery of the missiles is scheduled to begin in 2015.
"Tomahawk Block IV continues to be our Nation's weapon of choice to defeat high value targets and integrated air defense systems," said Capt. Joseph Mauser, U.S. Navy Tomahawk program manager. "With more than 2,000 combat missions and 500 successful flight tests, Tomahawk has proven its outstanding reliability and effectiveness."
The Tomahawk Block IV missile includes a two-way satellite data-link that enables a strike controller to flex the missile in-flight to pre-programmed alternate targets or redirect to an alternate or more time critical target.
"Tomahawk's record of reliability, effectiveness and accuracy is unmatched by any other tactical cruise missile in the world today," said Mike Jarrett, Raytheon Air Warfare Systems vice president. "Raytheon and the U.S. Navy are working to bring even greater capability to this already sophisticated weapon."