Raytheon Company won a $57.8 million modification contract from the U.S. Navy to provide support to the ship self-defense system for continuing platform system engineering agent. The contracting activity is Naval Sea Systems Command, Washington, DC.
Per the latest modification of the contract, there has been an addition to the fiscal 2017 option amount and an additional one-year extension to include fiscal 2018 requirements. This could take the total modification value to $133.6 million, if exercised.
The contract will use fiscal 2016 research, development, test and evaluation (Navy); fiscal 2016 operations and maintenance (Navy); and fiscal 2014 and 2015 shipbuilding and conversion (Navy) funds.
Work is scheduled to be complete by Dec 2018, and will be performed in San Diego, CA.
Raytheon is one of the best-positioned large-cap defense players due to its non-platform-centric focus. Its total order backlog amounted to $34.7 billion at the end of the fourth quarter of 2015.