Raytheon wins $693 million production contract for Sweden's Patriot Will enhance transatlantic security

 

Raytheon (NYSE: RTN) has won a $692.9 million U.S. Army contract to produce Sweden's Patriot™ Integrated Air and Missile Defense System including spare parts, support and training.

 

Previously announced by the Department of Defense, the contract calls for Raytheon to build and deliver an undisclosed quantity of Patriot fire units and GEM-T interceptor missiles.

 

"Sweden's Patriot procurement will provide joint training opportunities for the Swedish and U.S. armed forces, and enhance military interoperability," said Tom Laliberty, vice president of Integrated Air and Missile Defense at Raytheon's Integrated Defense Systems business. "Patriot is continually modernized, providing Sweden the world's most advanced and capable air and missile defense system."

 

Patriot is the backbone of Europe's defense against advanced aircraft, drones, and ballistic and cruise missiles.  Fifteen other nations depend on Patriot to protect their citizens and armed forces, including the U.S. and six other European nations: Germany, Greece, the Netherlands, Spain, Romania and Poland.

 

Raytheon's Patriot is a missile defense system consisting of radars, command-and-control technology and multiple types of interceptors, all working together to detect, identify and defeat tactical ballistic missiles, cruise missiles, drones, advanced aircraft and other threats.