Raytheon Awarded $10 M to Develop New Missile Defense Interceptor

(Tucson, Ariz., September 18, 2008) -- Raytheon Company (NYSE: RTN) has been awarded a $10 million Missile Defense Agency contract to continue research and development of the Network Centric Airborne Defense Element.

NCADE is an air-launched weapon system designed to engage short- and medium-range ballistic missiles in the boost and ascent phase of flight.

"NCADE fills a critical niche in the Ballistic Missile Defense system and provides a revolutionary, low-cost approach to interceptor development and acquisition," said Mike Booen, Raytheon Missile Systems vice president of Advanced Missile Defense. "The ballistic missile threat is increasing rapidly. Raytheon is committed to getting NCADE to the warfighter as quickly as possible."

Source : Raytheon

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