RTX's Raytheon awarded $529 million contract to replenish Dutch Patriot air defense system

Contract Details - Raytheon awarded a $529 million contract to supply the Netherlands with a Patriot air and missile defense system fire unit and related equipment [1] - The contract includes a single fire unit consisting of a radar, launchers, command and control stations, and other support equipment [2] - Work on the contract will primarily be conducted in Andover, Mass and Huntsville, Ala [3] Company Overview - Raytheon is a leading provider of defense solutions, specializing in integrated air and missile defense, smart weapons, missiles, advanced sensors and radars, interceptors, space-based systems, hypersonics and missile defense across land, air, sea and space [4] - RTX, the parent company of Raytheon, has over 185,000 global employees and reported 2023 sales of $69 billion [5] Industry Impact - The Patriot system is the only combat-proven ground-based air and missile defense capability in the world, defending against advanced long-range cruise missiles, tactical ballistic missiles, and air-breathing threats [2] - Patriot serves as the foundation of air defense for 19 countries and has demonstrated effectiveness against advanced aerial threats and complex raid attacks [2] - The Netherlands' investment in Patriot ensures collective security and deterrence across Europe [2]