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Raytheon $985 million hypersonic award puts them far ahead in contracting race

By Mike Stone WASHINGTON (Reuters) -The Pentagon on Thursday said it awarded Raytheon Technologies (NYSE:RTX) a $985 million dollar contract to develop prototypes for a hypersonic...
Raytheon $985 million hypersonic award puts them far ahead in contracting race © Reuters.
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By Mike Stone

WASHINGTON (Reuters) -The Pentagon on Thursday said it awarded Raytheon Technologies (NYSE:RTX) a $985 million dollar contract to develop prototypes for a hypersonic attack cruise missile, putting the firm well ahead of rivals in the race to become lead developer of the strategic weapons.

Raytheon (NYSE:RTN) beat out Boeing (NYSE:BA) and Lockheed Martin (NYSE:LMT) to continue its development of the weapon. The award is a significant advance in the development of hypersonic weapons for the United States, and puts Raytheon in an early lead for a series of related, and high-value, contract awards in the years ahead.

Hypersonic weapons travel in the upper atmosphere at speeds of about 6,200 km per hour (3,853 mph), more than five times the speed of sound.

The hypersonic attack cruise missile (HACM) is an air launched hypersonic weapon being developed in cooperation with the Australian government.

"With advanced threats emerging around the globe, the Hypersonic Attack Cruise Missile will provide our warfighters a much-needed capability," said Wes Kremer, president of Raytheon Missiles & Defense.

The Air Force expects delivery in fiscal 2027.

The United States and China are engaged in an arms race to develop the most lethal hypersonic weapons, a top Air Force official acknowledged late last year, as Beijing and Washington build and test more and more of the high-speed next-generation arms.

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29-09-2022 05:00:40 (UTC+7)

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    EUR/USD 0.9736 ↑ Sell  
    GBP/USD 1.0886 Neutral  
    USD/JPY 144.12 Neutral  
    AUD/USD 0.6521 Buy  
    USD/CAD 1.3606 Sell  
    EUR/JPY 140.29 Neutral  
    EUR/CHF 0.9499 ↑ Sell  
    Gold 1,668.80 ↑ Buy  
    Silver 18.915 ↑ Buy  
    Copper 3.3815 ↑ Buy  
    Crude Oil WTI 81.90 ↑ Sell  
    Brent Oil 87.99 ↑ Buy  
    Natural Gas 7.022 Neutral  
    US Coffee C 227.80 ↑ Sell  
    Euro Stoxx 50 3,335.30 Neutral  
    S&P 500 3,719.04 ↑ Sell  
    DAX 12,183.28 Neutral  
    FTSE 100 7,005.39 Neutral  
    Hang Seng 17,250.88 Buy  
    Small Cap 2000 1,725.13 ↑ Buy  
    IBEX 35 7,442.20 Neutral  
    BASF 39.415 ↑ Buy  
    Bayer 48.19 Neutral  
    Allianz 160.72 ↑ Buy  
    Adidas 130.24 ↑ Buy  
    Lufthansa 5.772 ↑ Buy  
    Siemens AG 99.46 ↑ Buy  
    Deutsche Bank AG 7.854 ↑ Sell  
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