Raytheon awarded $71 million in Navy contracts for missile systems
Investing.com -- RTX Corp. has been awarded a $50 billion umbrella contract from the Defense Logistics Agency for systems production, spare parts, and support services.
The Arlington, Virginia-based company received the 20-year contract as a sole-source acquisition under U.S. Code 3204(a)(1), according to Federal Acquisition Regulation 6.302-1. The contract includes no option periods and will run through July 31, 2045.
The agreement allows for indefinite-delivery/indefinite-quantity and "C" type subsumable contracts with negotiated pricing. Performance locations will be both inside and outside the continental United States.
The primary customers for this contract are the Army, Defense Logistics Agency, and Defense Department, which will be responsible for funding the subsumable contracts with varying appropriations types and fiscal years.
In a separate development, Raytheon Technologies (NYSE:RTX) Corp., operating as Pratt & Whitney Military Engines, has been awarded a $115,075,000 contract modification to procure long-lead time materials for F135 propulsion systems. These systems will support F-35 aircraft for the Air Force, Marine Corps, Navy, F-35 Cooperative Program Partners, and Foreign Military Sales customers.
Work on the F135 propulsion systems will be performed across multiple U.S. locations, with 20% in East Hartford, Connecticut, 15% in Indianapolis, Indiana, and 27% at various locations outside the continental United States. The project is expected to be completed by February 2028.
The contract modification includes $1,800,000 in fiscal 2024 Navy aircraft procurement funding, $38,125,000 in Marine Corps aircraft procurement funding, $44,150,000 in Foreign Military Sales funds, and $31,000,000 in non-U.S. Department of Defense participant funds.
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