(RTN) Raytheon Company Gets U.K. Ministry of Defense Contract for Boomerang

Raytheon BBN Technologies, a wholly owned subsidiary of Raytheon Company (RTN), has been selected by the U.K. Ministry of Defense (MoD) for the supply of Boomerang shooter detection systems. Raytheon Company had acquired BBN Technologies in October 2009 for approximately $350 million.

Per the contract, Raytheon will deliver Boomerang perimeter defense and vehicle systems to the U.K. distributor Maxord Ballistics Limited. Besides, alerting the troops to the location of incoming small arms fire, Boomerang immediately identifies the location of the enemy shooter.

Also, Raytheon Company completed the design and testing of a prototype dual-band data link that will help in interoperability between the Standard Missile family of interceptors and a wider variety of radars and ships.

Denmark, France, Germany, Italy, the Netherlands, Norway, Spain and the United Kingdom operate more than 20 naval vessels that utilize a variant of the SMART-L/APAR radar system. The dual band data link will allow these vessels to employ a full range of Standard Missiles.

Additionally, this data link will allow North Atlantic Treaty Organization (NATO) Ships to employ all Standard Missiles. NATO allies operate naval vessels that could play a major role in ballistic missile surveillance and engagement. The data link will enable the NATO allies to contribute more comprehensively to the full spectrum of ballistic missile defense and will free up U.S. Navy ships that will allow them to focus more on other critical missions around the globe.

Raytheon is one of the best-positioned companies among the large-cap defense players driven by its non-platform-centric focus, as well as its strong order bookings and order backlog. The company’s future growth will depend on its focus on Intelligence, Surveillance and Reconnaissance unmanned systems, training, cyber security, Standard Missile-6, Patriot, Zumwalt and THAAD.

This is, however, offset by apprehensions over future growth of the U.S. defense budget, the fate of high-cost programs, risks related to key project executions and order cancellations.

The company presently retains a short-term Zacks #3 Rank (Hold) that corresponds with our long-term Neutral recommendation on the stock.

Headquartered in Waltham, Massachusetts Raytheon Company is a technology and innovation leader specializing in defense, homeland security and other government markets throughout the world. The company provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing, effects, and command, control, communications and intelligence systems, as well as a broad range of mission support services. The company mainly competes with Lockheed Martin Corporation (LMT) and Northrop Grumman Corporation (NOC).

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