U.S. Raytheon Awarded $83 Million Mine Neutralizer Contract

U.S. defense contractor Raytheon (NYSE: RTN) has been awarded an $83 million contract from the Naval Sea Systems Command, WashingtonD.C., for the design, test and deployment of the Barracuda mine neutralization system. 

The Barracuda mine neutralization system is an expendable, autonomous unmanned underwater vehicle intended to identify and neutralize bottom, near surface and drifting sea mines. It will field a shallow water capability and be an expendable modular neutralizer consisting of a kill mechanism, propulsion, sensors, and communications buoy that enables wireless communication to the deployment platform. 

“We’ve applied our sonar expertise and our understanding of the complex undersea environment to Barracuda,” said Raytheon’s Paul Ferraro, vice president of Integrated Defense Systems’ Seapower Capability Systems business. “It’s an innovative solution for the Navy’s mine countermeasure mission and we are now one step closer to delivering.”

This contract includes options which, if exercised, would bring the cumulative value of this contract to $362,740,742

Work will be performed in Portsmouth, Rhode Island (96 percent); and DeLeon Springs, Florida (4 percent), and is expected to be completed by November 2022.  Fiscal 2017 and 2018 research, development, test and evaluation (Navy) funding in the amount of $11,392,392 will be obligated at time of award and $1,594,935 will expire at the end of the current fiscal year. 

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