Raytheon Announces OpenAIR™ Business Model
TEWKSBURY, Mass., June 14, 2007 /PRNewswire/ -- Raytheon Company's (NYSE: RTN) Integrated Defense Systems today announced the OpenAIR™ model, IDS's implementation of the open business model.
The OpenAIR (Open business model enables Affordability, Innovation and Results) model will leverage the best of small and large businesses, as well as academia, to provide customers effective solutions at affordable prices.
"By utilizing the OpenAIR model, we will be able to provide the best value to our customers," said Dan Smith, president of Raytheon Integrated Defense Systems. "By implementing this model we will harness the best technology and business practices to quickly bring affordable and effective solutions, thus helping to increase the buying power of our customers as they deal with continued budget challenges."
IDS has successfully implemented the OpenAIR model across a number of programs including AN/BYG-1 submarine combat system and the Zumwalt Class Destroyer. The OpenAIR model ensures repeated collaboration with small business and academia in hardware and software. It allows for the combination of IDS's knowledge and processes with the innovation and agility of small business.
Integrated Defense Systems is Raytheon's leader in Joint Battlespace Integration providing affordable, integrated solutions to a broad international and domestic customer base, including the U.S. Missile Defense Agency, the U.S. Armed Forces and the Department of Homeland Security.
Raytheon Company, with 2006 sales of $20.3 billion, is a technology leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 85 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: Guy Shields 978.858.5246
SOURCE: Raytheon Company
CONTACT: Guy Shields for Raytheon Company, +1-978-858-5246
Web site: http://www.raytheon.com/