German Patriot systems have played a leading role in the defense of Europe and NATO for more than three decades. We have not received formal notification from the German MoD on their plans for the TVLS acquisition and will continue to fully support their consideration of alternatives prior to a final contract award.
Raytheon continues to mature the combat-proven Patriot system with our 360-degree capability, open architecture Next Generation Patriot Solution recently selected over other's developmental missile defense projects.
Germany remains part of the 13-nation strong Patriot partnership. As such, Germany enjoys 100% of Patriot modernization upgrade and improvement benefits while contributing a fraction of the community shared costs, as was the case when Germany supported a $212m Engineering Services Contract awarded this past March.
Additionally, Germany has continued to upgrade its existing Patriot fire units towards the latest configuration and has already embarked on that journey by upgrading to a modern adjunct processor, which greatly enhances the radar's range and discrimination over legacy capabilities.
As we were reminded this past weekend when the Kingdom of Saudi Arabia successfully used Patriot to defend against a SCUD missile, Patriot remains the world's premier deployed and fully operational integrated air and missile defense solution. We are confident that our highly capable, low-risk, and cost-effective solution, which provides 360-degrees of coverage with open architecture, can advance the missile defense capabilities of the German Ministry of Defense. Further, the Patriot alliance offers a substantial export market for German industry, yielding more long term sustained jobs than any other solution.
Raytheon Company, with 2014 sales of $23 billion and 61,000 employees worldwide, is a technology and innovation leader specializing in defense, civil government and cybersecurity markets throughout the world. With a history of innovation spanning 93 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 cybersecurity and 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.
/PRNewswire -- June 9, 2015/
SOURCE Raytheon Company