A new chapter for Raytheon's Patriot missle system

A redesign of the Patriot missile system following a large order from the UAE five years ago has helped Raytheon (RTN +0.5%) turn the page to "a new chapter in the [Patriot] program's history," Reuters says.

Thanks to the "upgraded hardware," the company sees an opportunity to offer previous customers ways to reduce costs and make their existing systems more efficient.

With billions of orders expected during H2, the Patriot system now presents RTN with "a never-ending opportunity," CEO William Swanson says.

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