Raytheon Wins $118 Million in Defense Contracts

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The U.S. Department of Defense awarded two contracts to Raytheon on Friday, worth nearly $118 million combined.

The larger of the two awards, for $79.3 million, took the form of a cost-plus-fixed-fee, non-option-eligible, multi-year services contract with the U.S. Army. Raytheon will support 39 air-traffic navigation, integration, and coordination systems, and also 21 fixed-base precision approach radar systems, plus related equipment, for the Army's Product Management Office for Air Traffic Control Systems and Communication-Electronics Command, Logistics Readiness Center.

Raytheon's smaller award, worth $38.6 million, was an indefinite-delivery/indefinite-quantity contract funding the production and sustainment of Miniaturized Airborne Global Positioning Systems Receiver, or MAGR, 2000-S24s. Military aircraft use these devices to pinpoint their position, velocity, and improve their navigation. Raytheon's expected completion date on this contract is Sept. 30, 2017. In addition to U.S. forces, some of these MAGR 2000-S24 units will be delivered to NATO and other allied countries.

The article Raytheon Wins $118 Million in Defense Contracts originally appeared on Fool.com.

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