(By Balaseshan) Raytheon Co. (NYSE: RTN) said it has submitted its proposal for the U.S. Air Force's Space Fence program for tracking space debris that threaten manned space flight and satellites.
Space Fence, a large, S-band radar to be based in Kwajalein atoll, will be capable of detecting more and much smaller objects in low Earth orbit to provide greater accuracy and timeliness to meet space situational awareness requirements.
"Raytheon has partnered closely with the Air Force during the technology development phase to understand the requirements and has come up with a number of innovative solutions that will make Space Fence affordable. Raytheon is looking forward to supporting the Air Force as this vital program moves forward," said Scott Spence, Raytheon's Space Fence program director.
Raytheon leads the industry in delivering innovative, affordable and reliable radar solutions, leveraging a 70-year radar heritage to provide global customers a decisive intelligence edge in all domains.
The company produces the world's broadest range of radar solutions and continually works to advance radar technologies to deliver enhanced capabilities for warfighters around the world.
"Raytheon's Space Fence solution will track more than 150,000 pieces of unaccounted space debris that threaten manned space flight and the satellites we all rely on for many critical services, including accurate weather forecasts, navigation and financial transactions," said David Gulla, vice president of Global Integrated Sensors in Raytheon's Integrated Defense Systems business.
RTN is trading down 0.75 percent at $55.44 on Wednesday. The stock has been trading between $42 and $58.68 for the past 52 weeks.