$502 million contract for aerospace and defense companies

A joint venture of U.S. aerospace and defense companies General Dynamics Corp and Raytheon Co has won a $502 million contract to operate the U.S. Army’s Ronald Reagan ballistic missile defense test site in the Pacific Ocean. Under the 10-year contract, the joint venture, RGNext, will oversee the launches of space vehicles and ballistic missiles, as well as missile defense tests conducted from islands in the 750,000-square-miles Pacific Ocean range.

RGNext will maintain the range’s launch and safety systems, including radar, telemetry and optical sensors located on the Kwajalein Atoll in the Marshall Islands.