Dec. 27 (UPI) -- Raytheon Missile Systems received a $768.3 million contract to produce Advanced Medium Range Air-to-Air Missiles as well as captive air training missiles and support hardware, the Department of Defense announced.
The 7-inch-diameter AMRAAM is the world's most popular beyond-visual-range missile, capable of air-to-air and surface launches, according to Raytheon.
Nearly half the contract -- 47% -- is funded by the foreign military sales program, including unclassified sales to South Korea, Saudi Arabia, Kuwait and more than a dozen other nations.
Other funds for the contract will come from Air Force and Navy budgets and are obligated at the time of the award.
Work will be performed in Tucson, Ariz., with an estimated completion date of Feb. 28, 2023.