Raytheon lands $1.7 billion Patriot deal with Spain

Raytheon Technologies, a company under RTX Corp, has won a big contract worth $1.7 billion.

This contract is to provide Spain with four Patriot air and missile defense systems.

These systems are like shields that protect against enemy aircraft and missiles.

Raytheon is working with Spanish companies, like Sener, to make parts for these systems.

The Patriot systems are very effective but can be expensive, especially when used against cheaper threats like drones.

Each Patriot battery costs over $1 billion, and each missile costs around $4 million.

Other countries like Germany, the Netherlands, and Romania have also ordered these systems recently.

Additionally, the U.S. has approved a $105 million deal to help Ukraine maintain its Patriot systems.