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NSPA awards RTX's Raytheon a $478 million Patriot GEM-T missile contract
RTXRaytheon Technologies(RTX) Prnewswire·2024-08-06 13:00

Group 1 - Raytheon has been awarded a 478millioncontractbytheNATOSupportandProcurementAgencytosupplyadditionalGEM−TmissilestoGermany,supportingthereplenishmentofPatriotmissilesdonatedtoUkraine[1]−Denmark,theNetherlands,andNorwayareparticipatinginthefinancingofthisprocurement,demonstratingstrongsupportforUkraine[1]−TheGEM−TmissileisakeycomponentofthePatriotairandmissiledefensesystem,whichisrelieduponbyeightEuropeannationsandUkrainefordefenseagainstvariousaerialthreats[2][3]Group2−TheNSPA′sroleasNATO′sleadorganizationformultinationalacquisitionishighlighted,emphasizingitseffectivenessindeliveringcost−efficientsolutionsandreinforcingEuropeanindustrialcapacities[2]−ThecontractisexpectedtoenhancecooperationandinteroperabilityamongEuropeanpartners,contributingtoNATO′sessentialmission[2]−Raytheonhasover100yearsofexperienceindevelopingdefensetechnologies,includingintegratedairandmissiledefensesystems[3]Group3−RTX,theparentcompanyofRaytheon,employsover185,000peoplegloballyandreportedsalesof478 million contract by the NATO Support and Procurement Agency to supply additional GEM-T missiles to Germany, supporting the replenishment of Patriot missiles donated to Ukraine [1] - Denmark, the Netherlands, and Norway are participating in the financing of this procurement, demonstrating strong support for Ukraine [1] - The GEM-T missile is a key component of the Patriot air and missile defense system, which is relied upon by eight European nations and Ukraine for defense against various aerial threats [2][3] Group 2 - The NSPA's role as NATO's lead organization for multinational acquisition is highlighted, emphasizing its effectiveness in delivering cost-efficient solutions and reinforcing European industrial capacities [2] - The contract is expected to enhance cooperation and interoperability among European partners, contributing to NATO's essential mission [2] - Raytheon has over 100 years of experience in developing defense technologies, including integrated air and missile defense systems [3] Group 3 - RTX, the parent company of Raytheon, employs over 185,000 people globally and reported sales of 69 billion in 2023 [4] - RTX focuses on advancing technology and engineering integrated defense systems to address critical challenges faced by global customers [4]