Raytheon Technologies awarded $619.07M Navy contract modification

• Raytheon Technologies (NYSE:RTX) was awarded a $619.07M firm-fixed-price, fixed-price incentive, cost reimbursable modification to a previously awarded contract.
• The modification adds scope to procure long-lead materials, parts and components for Lot 17 F135 propulsion systems in support of the F-35 Lighting II Joint Strike Fighter aircraft for the Air Force, Marine Corps, Navy, non-U.S. Department of Defense, or DOD, partners, and Foreign Military Sales, or FMS, customers.
• Additionally, this modification adds scope for the production and delivery of four F135-PW-600 propulsion systems in support of Lots 15 and 16 F-35 Lighting II Joint Strike Fighter for non-U.S. DOD partners and FMS customers, as well as provides for integration efforts for an FMS customer into the Joint Strike Fighter program.
• Work is expected to be completed in October 2030.
• FY22 aircraft procurement funds in the amount of $101.29M; FY22 aircraft procurement funds in the amount of $44.08M; FMS customer funds in the amount of $339.13M and non-U.S. DOD participant funds in the amount of $134.57M will be obligated at time of award, none of which will expire at the end of the current fiscal year.
• The Naval Air Systems Command is the contracting activity.