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Raytheon Awarded More Than $100 Million For New Missile Defense System
TUCSON, Ariz., Oct. 26, 2009 /PRNewswire/ -- Raytheon Company (NYSE: RTN) was awarded two contracts worth in excess of $100 million by Rafael Advanced Defense Systems Ltd. to design and develop the David's Sling Weapon System.
The DSWS is a joint program between the Missile Defense Agency and the Israel Missile Defense Organization. The system will defeat short-range ballistic missiles, large-caliber rockets and cruise missiles in their terminal phase of flight.
The first contract was awarded to codevelop the Stunner Interceptor, the missile component of the DSWS. Stunner is an advanced hit-to-kill interceptor designed for insertion into the DSWS and allied integrated air and missile defense systems.
The second contract was awarded for the development, production and integrated logistics support of the missile firing unit, the launcher component of the DSWS. The MFU will provide the DSWS with vertical interceptor launch capability for 360-degree extended air and missile defense.
"Large-caliber rockets and short-range ballistic missile threats are inexpensive, plentiful, easily concealed and largely exempt from international arms control accords," said Mike Booen, Raytheon's vice president of Advanced Security and Directed Energy Systems. "Stunner offers a near-term and affordable solution to this asymmetric threat."
Employable in a variety of engagement scenarios that combine ground-, sea- and air-based sensors, Stunner offers substantial operational and deployment flexibility.
"Rafael and Raytheon are responding to the worldwide demand for affordable missile defense by codeveloping a next-generation hit-to-kill interceptor," said David Stemer, Rafael's Missile Division general manager. "The Stunner interceptor redefines the performance-cost value equation for terminal missile defense and provides all-weather hit-to-kill performance at a tactical missile price."
Raytheon Company, with 2008 sales of $23.2 billion, is a technology and innovation leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 87 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as a broad range of mission support services. With headquarters in Waltham, Mass., Raytheon employs 73,000 people worldwide.
Contact: J. Nicole Stewart 520.794.7810 (office) 520.437.1975 (mobile) Nicole.Stewart@raytheon.com
SOURCE: Raytheon Company
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