Raytheon Gets $143M Navy Contract Modification for Tomahawk Block IV Cruise Missiles

Raytheon (NYSE: RTN) will produce an additional 100 Tomahawk Block IV cruise missile systems for the U.S. Navy under a $143.3 million contract modification.

The Navy exercised an option under a previously awarded contract for the company to manufacture lot 15 all-up-round missiles, the Defense Department said Friday .

Work will occur through August 2020 at various locations within the continental U.S., Canada and Scotland.

The Naval Air Systems Command is the contracting activity and the service branch will use fiscal 2018 weapons procurement funds on the exercised option.

Tomahawk’s latest variant is designed with a two-way satellite data link that works to redirect the missile in flight to a preprogrammed target.

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