MARLBOROUGH, Mass., April 24, 2012 /PRNewswire/ -- The Federal Aviation Administration (FAA) has awarded Raytheon Company (NYSE: RTN) a two-year contract extension to continue to provide services for the Wide Area Augmentation System (WAAS), a safety system that provides satellite-based navigation in the continental United States, Alaska, Canada and Mexico. The $30.1 million contract extends the period of performance through Sept. 24, 2013.
"Raytheon has been the FAA's prime contractor for WAAS since the system was commissioned for operational use in the United States in 2003," said Michael Prout, vice president of Security and Transportation Systems for Raytheon's Network Centric Systems business. "The contract marks another milestone in the continuing partnership between Raytheon and the FAA to improve safety and efficiency for pilots."
Raytheon will provide life-cycle support and other services to improve service reliability and availability, and increase the coverage area through system enhancements. WAAS enables GPS to meet air navigation performance and safety requirements for en route, terminal, non-precision approach, and approach with vertical guidance operations.
Raytheon Company, with 2011 sales of $25 billion, is a technology and innovation leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 90 years, Raytheon 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. With headquarters in Waltham, Mass., Raytheon employs 71,000 people worldwide. For more about Raytheon, visit us at www.raytheon.com and follow us on Twitter at @raytheon.
Note to Editors
Please visit here for more information on Raytheon's global leadership in air traffic management solutions.
SOURCE Raytheon Company
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here