Raytheon Awarded Naval Power System Contract Worth $10M

Raytheon Company (NYSE: RTN) has been awarded a $10 million contract from Naval Sea Systems Command to develop a pulsed power system that will enable projectiles to reach great distances without the use of an explosive charge or rocket motor. The contract for the preliminary design of a Pulse Forming Network (PFN) is part of a larger effort by the U.S. Navy to develop a multimission weapon system for use on naval warships to defend and attack with pinpoint accuracy.