Dec 23 (Reuters) – Raytheon Technologies, a unit of RTX Corp, won a $1.7 billion contract to deliver four Patriot air and missile defense systems to Spain, the U.S. defense contractor said on Tuesday.
Patriot, short for Phased Array Tracking Radar for Intercept on Target, is a mobile surface-to-air missile system. It detects, tracks and destroys incoming aircraft and missiles.
Developed by Raytheon, the system has been the U.S. Army’s main air and missile defense system, deployed worldwide to counter aircraft and missile threats in regions including the Middle East, South Korea and Guam.
Raytheon has partnered with Spanish defense firms, including Sener, to supply components such as the electro-mechanical control system for the GEM-T missile under its global Patriot supply chain.
Patriot batteries are highly effective against missiles and aircraft, but using them to shoot down cheap drones is an expensive proposition.
A newly produced single Patriot battery costs over $1 billion, including $400 million for the system and $690 million for the missiles in a battery, according to the Center for Strategic and International Studies.
Patriot interceptors are estimated at around $4 million per missile.
The deal comes as Germany, the Netherlands and Romania have placed orders for additional Patriot systems this year.
Separately, the U.S. State Department cleared a possible $105 million sale of equipment to sustain Ukraine’s Patriot air defense systems in November.
(Reporting by Apratim Sarkar; Editing by Tasim Zahid)
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