- Raytheon (RTN) has won a booking from the Navy worth up to $1.6B to design a next-generation air and missile defense radar for Arleigh Burke destroyers starting in 2016.
- Raytheon beat out Lockheed Martin (LMT) and Northrop Grumman (NOC) for the tender.
- The Navy will pay $386M for the initial design contract, after which it could take up options to procure nine radars. (PR)
at CNBC.com (Nov 10, 2014)