Raytheon Missiles & Defense awarded $624 million for Stinger missile production

Rhea-AI Summary

Raytheon Missiles & Defense has secured a $624 million contract from the U.S. Army to manufacture 1,300 Stinger missiles. This contract encompasses engineering support and production acceleration to meet urgent defense needs, particularly for replenishing stocks provided to Ukraine. The funding is part of the Ukraine Supplemental funding package aimed at supporting Ukrainian defense forces. The Stinger missile is recognized for its operational effectiveness against aerial threats.

Positive

• Awarded a significant $624 million contract for 1,300 Stinger missiles.
• Contract includes engineering support and production acceleration.
• Supports urgent defense needs related to U.S. military and foreign military sales.

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• None.

TUCSON, Ariz., May 27, 2022 /PRNewswire/ -- Raytheon Missiles & Defense, a Raytheon Technologies (NYSE: RTX) business, was awarded a $624 million U.S. Army contract to produce 1,300 Stinger® missiles. The contract includes provisions for engineering support, as well as the test equipment and support needed to address obsolescence, modernize key components, and accelerate production.

"We're aligned with the U.S. Army on a plan that ensures we fulfill our current foreign military sale order, while replenishing Stingers provided to Ukraine and accelerating production," said Wes Kremer, president of Raytheon Missiles & Defense. "The funding will be used to enhance Stinger's producibility in an effort to meet the urgent need for replenishment."

The combat-proven Stinger missile is a lightweight, self-contained air defense system that can be rapidly deployed by ground troops. Its supersonic speed, agility and highly accurate guidance and control system give the weapon an operational edge against cruise missiles and all classes of aircraft.

The contract is being funded from the Ukraine Supplemental, which contains emergency funding to support Ukrainian defense forces. Raytheon Missiles & Defense continues to work closely with the U.S. Army and its supplier partners to rapidly support the growing demand for Stinger.

About Raytheon Technologies
Raytheon Technologies Corporation is an aerospace and defense company that provides advanced systems and services for commercial, military and government customers worldwide. With four industry-leading businesses ― Collins Aerospace, Pratt & Whitney, Raytheon Intelligence & Space and Raytheon Missiles & Defense ― the company delivers solutions that push the boundaries in avionics, cybersecurity, directed energy, electric propulsion, hypersonics, and quantum physics. The company, formed in 2020 through the combination of Raytheon Company and the United Technologies Corporation aerospace businesses, is headquartered in Waltham, Massachusetts.

Media Contact
Carolyn Beaudry
rmdpr@rtx.com

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SOURCE Raytheon Technologies

FAQ

What is the contract value for the Stinger missile production by Raytheon?

Raytheon was awarded a $624 million contract for the production of 1,300 Stinger missiles.

What is the purpose of the $624 million contract for Raytheon?

The contract is intended for manufacturing Stinger missiles, including engineering support and modernization efforts.

How will the funds from the contract impact military supplies?

The funds will address urgent replenishment needs for Stinger missiles provided to Ukraine and enhance producibility.

When was the $624 million contract awarded to Raytheon?

The contract was awarded on May 27, 2022.

What type of missile is included in Raytheon's recent contract?

The contract includes the production of Stinger missiles, a lightweight self-contained air defense system.