TUCSON, Ariz., Aug. 1, 2012 /PRNewswire/ -- The U.S. Navy has awarded Raytheon Company (NYSE: RTN) a $51.7 million contract for low rate initial production of the Rolling Airframe Missile Block 2. The contract includes options, which, if exercised, would bring the cumulative value of this contract to more than $105 million. RAM Block 2 features enhanced kinematics, an evolved radio frequency receiver, a new rocket motor, and an upgraded control and autopilot system.

"This next-generation RAM will enable U.S. and allied naval warfighters to defeat the more sophisticated threats emerging around the world today," said Rick Nelson, Raytheon Missile Systems' vice president of Naval Weapon Systems. "Through Raytheon's collaborative relationship with our German partner RAMSYS, we continue to improve and expand the capabilities of RAM."

The contract award follows a series of key milestones, including successful guided flight tests for RAM Block 2. The program is preparing for another intercept test later this year, as well as initiation of government developmental testing in support of fleet deployment.

"RAM has been fired in more than 300 flight tests with a 95 percent success rate," said Nelson. "We intend to bring the same or even greater reliability to RAM Block 2."

About RAM

RAM is a supersonic, lightweight, quick reaction, fire-and-forget missile providing defense against anti-ship cruise missiles, helicopter and airborne threats, and hostile surface craft. For more than 35 years, the U.S. and Germany have worked together developing and maintaining RAM. Development, production work and funding are shared between Raytheon and RAMSYS.

About Raytheon

Raytheon Company, with 2011 sales of $25 billion and 71,000 employees worldwide, is a technology and innovation leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 90 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. Raytheon is headquartered in Waltham, Mass. For more about Raytheon, visit us at www.raytheon.com and follow us on Twitter at @raytheon.

Media Contact
Amy Bolton
+1.520.247.4399
rmspr@raytheon.com

SOURCE Raytheon Company