This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Raytheon Awarded US Navy Contract For Ship Self-Defense System

Stocks in this article: RTN

TEWKSBURY, Mass., Nov. 5, 2012 /PRNewswire/ -- Raytheon Company (NYSE: RTN) has been awarded a $22.5 million U.S. Navy contract for the Ship Self-Defense System. With this award, Raytheon will continue system development, test and integration, as well as Platform Systems Engineering Agent (PSEA) services and support for fleet-deployed systems.

SSDS is an open, distributed combat management system in service on carriers and amphibious ships, including CVN, LSD dock landing ship, LPD, LHA and LHD classes. The LHA variant is nearing initial deployment, a technical refresh of the LSD-class is almost complete, and system development is underway for the new CVN 78-class of aircraft carriers. SSDS is designed to expedite the detect-to-engage sequence to defend against anti-ship cruise missiles. The system integrates and automates standalone sensors and weapon systems to provide the required, quick response and multi-target engagement capability.

"SSDS is a deployed and proven combat management system, delivering outstanding capabilities and performance as well as the reliability, refresh and the inherent interoperability benefits of an open architecture design," said Kevin Peppe, vice president of Seapower Capability Systems for Raytheon's Integrated Defense Systems business. "The evolution of SSDS -- spanning decades, ship classes, sensors and weapons systems -- demonstrates Raytheon's ability to deliver innovation in a platform-agnostic approach for all major naval surface platforms."

In addition to the contract, the Navy has announced its intent to increase the current PSEA contract ceiling by $50 million to extend SSDS services and support through its Fiscal Year 2013. Raytheon has been the SSDS PSEA since 2008, providing ongoing maintenance, upgrades and lifecycle support for both new ship programs as well as legacy ships. As PSEA, Raytheon has achieved consistently favorable customer performance ratings over the life of the contract.

First Fleet Use of Open Architecture

Raytheon's SSDS MK 2 is the first fleet use of open architecture computing environment hardware and software that includes selected software components from the Total Ship Computing Environment Infrastructure developed for the DDG 1000-class destroyer. The open architecture design adds a new level of flexibility and commercial standards to support the Navy's goal of open, modular and interoperable combat management systems for the fleet. With its open and modular design, SSDS can also support additional domestic and international combatants.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,416.85 +225.48 1.31%
S&P 500 2,021.40 +19.24 0.96%
NASDAQ 4,683.4070 +45.4130 0.98%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs