TUCSON, Ariz., Dec. 9, 2013 /PRNewswire/ -- Astrium, the world's second largest space company, and Raytheon Company (NYSE: RTN) signed a teaming agreement that formalizes the companies' plans to compete for the role as lead system engineers and integrators for the North Atlantic Treaty Organization's Ballistic Missile Defense Program.
NATO's BMD Program oversees the development and execution of ballistic missile defense capabilities, which expanded in 2012 to include the defense of European populations and territories.
"This transatlantic team has a proven, successful track record supporting national and NATO missile defense," said Yannick Devouassoux, Astrium's Head of Missile Defense and NATO Programmes. "The Astrium-Raytheon team will provide sound, innovative, and cost-effective solutions to help develop NATO's future ballistic missile defense capability."
The NATO BMD System Engineering and Integration contract will establish the contractual requirements for territorial defense, while helping create a NATO command and control network architecture for Europe. It will also provide a test infrastructure for the new architecture.
"With more than 30 years' experience in ballistic missiles development and production, ballistic battle analysis, and threat modeling, Astrium is a leader in European missile defense," said George Mavko, Raytheon Missile Systems' Director of European Missile Defense. "Combined with Raytheon's decades of experience in ballistic missile defense interceptors, radars and space sensors, this partnership will provide Europe the best, most affordable missile defense protection."
Once awarded, the contract will call for a 7-year period of performance with an estimated value of 67.6 million Euros (US $91 million).
Raytheon Company, with 2012 sales of $24 billion and 68,000 employees worldwide, is a technology and innovation leader specializing in defense, security and civil markets throughout the world. With a history of innovation spanning 91 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. Raytheon is headquartered in Waltham, Mass. For more about Raytheon, visit us at www.raytheon.com and follow us on Twitter @Raytheon.
SOURCE Raytheon Company