Raytheon Technologies awarded $234.07M Navy contract modification

Raytheon was awarded a $234.07M firm-fixed-price modification to a previously awarded contract to exercise options for the Over-the-Horizon Weapon System. Work is expected to be completed by March 2027. FY23 procurement funds in the amount of $166.25M; FY23 weapons procurement funds in the amount of $53.91M; FY23 other procurement funds in the amount of $3.07M; FY23 shipbuilding and conversion funds in the amount of $1.07M; FY22 shipbuilding and conversion funds in the amount of $889,400 and FY21 shipbuilding and conversion funds in the amount of $889,400, will be obligated at the time of award and will not expire at the end of the current fiscal year. The Naval Sea Systems Command is the contracting activity.