RTX (RTX) unit Raytheon Missiles and Defense was awarded a $1.81 billion fixed-price incentive, firm-fixed-price, and cost-only modification to the previously awarded Navy contract for hardware production of radars and associated hardware, the US Department of Defense said Monday.

The contract modification includes options which, if exercised, would bring its cumulative value to $3.39 billion, according to a statement.

The project is expected to be completed by July 2031. If all options are exercised, work will continue through October 2031, the statement added.