Established in 1922, Raytheon is a major American defense contractor and industrial corporation with core manufacturing concentrations in weapons and military and commercial electronics. Until early 2007, it was involved in corporate and special mission aircraft and is currently the world’s largest producer of guided missiles.
In February 2015, the Raytheon Company announced that they have been awarded a USD$15.5 million development contract by the United States Navy to develop a flexible, application-based architecture (ABA) for the P-8A Poseidon maritime patrol aircraft. The work will take place in McKinney, Texas and is set to be completed by March of 2017. System architecture experts from Northrop Grumman Information Systems, L-3 Communications, General Dynamics, and Rite Solutions will be assisting Raytheon with upgrading the P-8A’s warfighting capability.
This is not the first time that Raytheon and the US Navy have worked together. At the beginning of January, the two companies teamed up to incorporate Raytheon’s new synthetic guidance technology into a Tomahawk cruise missile, the Navy’s precision strike standoff weapon for long and medium range attack of tactical targets.
Jerry Powlen, VP of Intelligence, Surveillance, and Reconnaissance Systems at Raytheon Space and Airborne Systems, is looking forward to the two companies’ continued partnership: "Raytheon is uniquely qualified to bring enhanced mission capability to the Poseidon platform thanks to decades of experience and our partnership with the Navy on advanced electro-optical, infrared and RF sensors for many maritime and overland surveillance platforms.”
Currently, the Raytheon Company has over 63,000 employees worldwide and consistently reports annual revenues of approximately US$25 billion. More than 90% of Raytheon's revenues were obtained from military contracts and, as of 2012, it was the fifth-largest military contractor in the world. It is also the fourth-largest defense contractor in the United States by revenue.
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