Raytheon Technologies awarded $619.24M Navy contract modification

Raytheon was awarded a $619.24M fixed-price incentive modification to previously awarded contract to exercise options for hardware production of the AN/SPY-6(V) family of radars. Work is expected to be completed by September 2026. FY23 shipbuilding and conversion funds in the amount of $470.62M and FY23 other procurement funds in the amount of $148.62M 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.