U.S. Army awards Raytheon $116.4 million contract for Long-Range Precision Fires technology maturation and risk reduction

TUCSON, Ariz., June 12, 2017 /PRNewswire/ -- The U.S. Army awarded Raytheon Company (NYSE: RTN) a $116.4 million contract to enter the technological maturation and risk reduction phase of the Long-Range Precision Fires program.

LRPF is a new, longer-range surface-to-surface weapon that can defeat fixed land targets out to 499 kilometers which replaces the existing Army Tactical Missile System. Raytheon's LRPF solution, named DeepStrike:

• fires two missiles from a single weapons pod
• lowers costs and increases capacity
• boosts range over current systems by more than 40 percent 

"Raytheon can develop, test, and field this new capability and deliver it to the Army ahead of current expectations to replace aging weapons," said Dr. Thomas Bussing, vice president of Raytheon's advanced missile systems product line. "LRPF gives soldiers on the battlefield overmatch capability against adversaries."

The technological maturation and risk-reduction phase includes testing missile components to be sure the design is ready for engineering and manufacturing development and live-fire demonstrations by the end of 2019.

DeepStrike will offer the U.S. Army the capability to implement future upgrades that will increase its versatility for future battlefield requirements.

About Raytheon
Raytheon Company, with 2016 sales of $24 billion and 63,000 employees, is a technology and innovation leader specializing in defense, civil government and cybersecurity solutions. With a history of innovation spanning 95 years, Raytheon provides state-of-the-art electronics, mission systems integration, C5ITM products and services, sensing, effects, and mission support for customers in more than 80 countries. Raytheon is headquartered in Waltham, Massachusetts. Follow us on Twitter @Raytheon.

www.raytheon.com

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SOURCE Raytheon Company

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