WASHINGTON (Sputnik) — US defense contractor Raytheon anticipates to grow $1.1Bln next year, or 3-5 percent, as a result of demand for precision strike weapons to battle terrorist groups like the Daesh, missile defense systems and cybersecurity, Raytheon CEO Thomas Kennedy said on Monday.
"The insurgency wars that are going on are essentially providing significant demand for precision weapons," Kennedy was quoted as saying by Defense One Today.
Raytheon is mostly known for its Integrated Patriot Missile Defense System, but the company also produces offensive weapons such as the air-to-ground Maverick missile used by US Navy aircraft.
"Our international pipeline has never been so strong," Kennedy stated, referring to Asian and Middle Eastern allies wary of missile threats from North Korea, Iran and China.
Kennedy noted that Raytheon’s growth will also be fueled by revenue streams from its cybersecurity subsidiary Forcepoint, which earned $600Mln in 2015, the report pointed out.
Last year, Raytheon inked a $2 billion contract to secure the US Department of Homeland Security’s computer networks as well as the networks of an unnamed nation, according to the report.
