Raytheon Awarded $18 Million for SLAMRAAM Long-Lead Purchases
TEWKSBURY, Mass., March 2, 2010 /PRNewswire/ -- Raytheon Company's (NYSE: RTN) Surface Launched Advanced Medium Range Air-to-Air Missile (SLAMRAAM) program has received approval from the U.S. Army for long-lead purchases, not to exceed $18 million, leading to low rate initial production.
This approval is significant as it underscores the Army's confidence in the system and the capability it brings to the warfighter. This funding will accelerate the manufacturing schedule for key command and control components subsequent to the U.S. Army Milestone C decision planned for next year.
"SLAMRAAM represents an important step forward in the defense of our troops on the battlefield as well as our nation and allies," said Karen Kalil-Brown, vice president for Raytheon Integrated Defense Systems' National & Theater Security Programs. "SLAMRAAM will field the first command and control air defense system supporting the Army's vision of 'system of systems.'"
SLAMRAAM is a tailorable, state-of-the-art air defense system that can defeat current and emerging cruise missile threats, unmanned aerial systems and a wide range of air breathing threats. It provides the warfighter with a system of highly mobile battlefield elements networked and geographically distributed to provide integrated fire control capability against airborne threats.
Raytheon Company, with 2009 sales of $25 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 88 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 75,000 people worldwide.
SOURCE Raytheon Company