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Raytheon Gets $3.3B Order From UAE

Defense contractor said Thursday the United Arab Emirates has ordered a Patriot missile defense system worth $3.3 billion.

WASHINGTON (AP) -- Defense contractor Raytheon Co. said Thursday the United Arab Emirates has ordered a Patriot missile defense system worth $3.3 billion.

The order, which came through the Defense Department, is for batteries used to shoot down incoming missiles in their last stages of flight. The system includes power generators, radar and interceptor missiles.

It is the latest purchase of missile defense equipment by U.S. allies in the Middle East. Saudi Arabia, Israel and Kuwait have all bought Patriot and other missile shield systems, largely to protect against missile threats from nations such as Iran.

The Pentagon already announced plans earlier this year to sell the UAE the Terminal High Altitude Area Defense system, or THAAD, for $7 billion. The UAE already uses Raytheon's Hawk air defense system, which it began buying in 1987.

Shares of Waltham, Mass.-based Raytheon rose $1.34 to $51.83 in morning trading Thursday.

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