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Raytheon [RTN] said it achieved Low-Rate Initial Production (LRIP) in its Stunner missile interceptor program after receiving a $30 million contract from Israel's Rafael Advanced Defense Systems .
The contract, issued Dec. 13, is for continued development of the Stunner interceptor, according to a Jan. 9 Raytheon statement. Raytheon will also use the funding for fabrication of the missile's subsystem hardware, including safety devices and guidance electronics.
Raytheon Vice President of Advanced Security and Directed Energy Systems Mike Booen said the company has refined the technology enough to advance to LRIP.
"We have been jointly developing this missile for four years now (and) we finally got to the point where the system is mature...