Raytheon gets $49 million Air Force contract for radar jamming equipment

Raytheon gets $49M Air Force contract

TUCSON, Ariz. — Raytheon Co. said Thursday that it was awarded a $49 million Air Force contract for work on a radar jamming decoy.

The contract is for a small air launched decoy that weighs less than 300 pounds and has a range of 500 nautical miles. Raytheon will begin work on adding radar jamming capabilities to the decoy under the contract.

Raytheon shares dropped $1.91, or 3.3 percent, to $56.31 in afternoon trading amid a broad market decline.