Raytheon’s new GPS contract with the U.S. Air Force may be over $1.77 Billion
Posted on March 5, 2010 by Fighter Country
Raytheon’s new contract with the U.S. Air Force to upgrade the U.S. Global Positioning System may be worth twice as much as originally thought due to demand for military and commercial use. The contract is currently valued at $886 million and includes a much-needed update for the U.S. air traffic control system by request of the FAA. The contract states that Raytheon will supervise a team of contractors to make expansions and improvements in accuracy to the GPS system nationwide. Although the market for GPS accessories and equipment stands at $20 billion today, it is expected to hit $300 billion…
