Raytheon to develop new interceptor missile, awarded $30 million

TUCSON, Ariz., Jan. 9, 2012. Raytheon Company (NYSE: RTN) received a $30.2 million contract from Rafael Advanced Defense Systems for continued development of the Stunner interceptor. Stunner is a multi-mission, multi-platform interceptor designed for integration into current and planned air and missile defense systems. Raytheon will use the funding for fabrication of the missile's subsystem hardware including safety devices and guidance electronics. The new contract will also fund flight tests and low-rate initial production of the Stunner interceptor. The first Stunner interceptor test flight is planned to take place later this year.