May 21 (UPI) -- Raytheon has been awarded a contract by the Defense Department for evolved sea sparrow missiles.
The contract award from Naval Sea Systems Command is valued at more than $77 million under the terms of a firm-fixed-price contract to provide services in support of evolved sea sparrow missiles, according to the Pentagon.
Evolved sea sparrow missiles are used to protect naval ships from incoming enemy missiles. The contract specifically will provide "engineering, test equipment, material and management necessary to transition" to block II missiles.
Work on the contract will occur in multiple locations across the United States, as well as the Netherlands, Germany, Australia and Norway.
The period of performance is expected to be complete in December 2020.
More than $61.5 million will be obligated to Raytheon at time of award from Navy fiscal 2018 research, development, test and evaluation and other procurement funds.
The contract announcement said that none of the obligated funds will expire at the end of the current fiscal year, the Pentagon said.