Raytheon Secures $624 Million Contract to Boost Stinger Missile Manufacturing
Raytheon Missiles & Defense, a segment of Raytheon Technologies (NYSE: RTX), has secured a $624 million contract from the U.S. Army to manufacture 1,300 Stinger® missiles. The agreement encompasses provisions for engineering assistance, in addition to testing apparatus and resources required to tackle obsolescence, modernize essential components, and expedite production.
“We’re in full alignment with the U.S. Army on a strategy that guarantees we meet our ongoing foreign military sales order, while simultaneously replenishing Stingers supplied to Ukraine and accelerating production,” stated Wes Kremer, president of Raytheon Missiles & Defense. “The allocated funds will be directed towards improving Stinger’s manufacturability to address the critical need for replenishment.”
The battle-tested Stinger missile is a nimble, self-sufficient aerial defense mechanism that can be swiftly deployed by ground forces. Its supersonic velocity, maneuverability, and highly precise guidance and control system provide the ordinance an operational advantage against cruise missiles and all categories of aerial vehicles.
The contract is being financed through the Ukraine Supplemental, which includes emergency funds dedicated to supporting Ukrainian defense forces. Raytheon Missiles & Defense maintains a close collaboration with the U.S. Army and its supplier partners to urgently respond to the increasing requirement for Stinger missiles.
