Raytheon Technologies awarded $1.2 billion contract to provide Patriot air defence system to Switzerland

Raytheon Technologies (NYSE: RTX) was awarded a $1.2 billion foreign military sales contract from the US Army to provide Switzerland with the Patriot™ air defence system.

With the sale, Switzerland becomes the 18^th global Patriot partner and the eighth European country to choose the system as the backbone of their air defence, Fox8 reports.

The contract includes five Patriot fire units and a quantity of Guidance Enhanced Missiles, known as GEM-T. The missile is proven to defeat tactical ballistic missiles, cruise missiles and enemy aircraft.

"Designed specifically to counter today's threats, Patriot is the proven, reliable ground-based air defense capability for the US Army and now 17 international countries," said Tom Laliberty, president of Land Warfare & Air Defence at Raytheon. "Switzerland now joins this Global Patriot user community and will benefit from unparalleled commonality, cooperation, experience and cost sharing over the weapon system's life cycle."

The Patriot offer for Switzerland included projects for local industry participation. Raytheon will work with Swiss industry to deliver the Patriot system to meet Switzerland's air defense needs and safeguard its sovereignty.

Patriot is the most effective, most sophisticated, and only combat-proven ground-based air defense capability available in the world to defeat advanced long-range cruise missiles, tactical ballistic missiles, and a full spectrum of air-breathing threats. As these threats evolve, so does Patriot. Its technology is continuously refreshed, tested and upgraded, thanks to continued investment by all Patriot partner nations.

The contract was announced by the US Department of Defence on March 28, 2023.

About Raytheon Technologies

Raytheon Technologies (NYSE: RTX) is the world's largest aerospace and defense company. Our global team of 180,000 employees pushes the limits of known science and redefines how we connect and protect our world. We are advancing aviation, building smarter defense systems and creating innovations to take us deeper into space. The company, with 2022 sales of $67 billion, is headquartered in Arlington, Virginia.