© Reuters.
By Mike Stone
WASHINGTON (Reuters) -The Pentagon awarded Raytheon Technologies (NYSE:) Corp a $985 million dollar contract to develop prototypes for the hypersonic attack cruise missile, according to a source familiar with the award.
The Air Force is expected to announce the award as soon as Thursday.
Raytheon (NYSE:) beat out Boeing (NYSE:) and Lockheed Martin (NYSE:) to continue its development of the weapon.
The hypersonic attack cruise missile (HACM) is an air launched hypersonic weapon that was developed in cooperation with the Australian government.
Hypersonic weapons travel in the upper atmosphere at speeds of more than five times the speed of sound, or about 6,200 kilometers (3,853 miles) per hour.
The Air Force expects delivery in fiscal 2027.
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