Raytheon Missiles & Defense and TTM Technologies, Inc. Reach Agreement to Purchase SPY-6 Radar Components
The Multi-Year Agreement Covers up to Five Years and $500 Million
SANTA ANA, Calif., Dec. 06, 2022 (GLOBE NEWSWIRE) -- TTM Technologies, Inc. (NASDAQ: TTMI) ("TTM") and Raytheon Missiles & Defense ("RMD"), a Raytheon Technologies (NYSE: RTX) business, have reached a multi-year agreement to provide radio frequency assemblies, electronic hardware, and printed circuit boards ("PCBs") for the SPY-6 family of radars. The agreement has the potential to reach $500 million over five years.
"SPY-6 provides the unparalleled capability to the U.S. Navy and will be on 40 ships of seven different classes by 2030," said Kim Ernzen, President of Naval Power at RMD. "Agreements like these ensure we continue to meet the demands of our customers."
TTM designs and manufactures the Beam Form Network (BFN) along with PCBs, and specialized assemblies for the SPY-6 family of radars. This type of multi-year commitment for supply enables TTM and its supply chain partners to increase value to the end customer and transform the way TTM's supplier partners conduct business, creating efficiencies throughout the supply chain.
"This significant agreement further strengthens our partnership with RMD and positions both companies for future business opportunities where technology and innovation are key points of focus for the ultimate end user, the U. S. Government," said Catherine Gridley, Executive Vice President and President, Aerospace & Defense/ Specialty Business Unit.
When compared to legacy radars, SPY-6 brings new capabilities to the surface fleet, such as advanced electronic warfare protection and enhanced detection abilities. SPY-6 radar installation is complete on the Navy's first Flight III destroyer, the USS Jack H. Lucas (DDG 125), which is scheduled to be operational in 2024.
For more information, please contact:
TTM Technologies, Inc.
TTM Investors
Sameer Desai,
Vice President, Corporate Development & Investor Relations
714-327-3050
Press Inquiries
Aerospace & Defense/Specialty Business Unit – Marketing & Communications
About TTM
TTM Technologies, Inc. is a leading global manufacturer of technology solutions including engineered systems, radio frequency ("RF") components and RF microwave/microelectronic assemblies, and quick-turn and technologically advanced printed circuit boards ("PCBs"). TTM stands for time-to-market, representing how TTM's time-critical, one-stop manufacturing services enable customers to shorten the time required to develop new products and bring them to market.
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