The government of Sweden signed an agreement to purchase Raytheon’s (NYSE: RTN) Patriot™ air and missile defense system from the U.S. Army. The agreement, formally referred to as a Letter of Offer and Acceptance, paves the way for Sweden’s Patriot force to rapidly reach Initial Operational Capability.
“Sweden and 15 other countries trust our Patriot system to defend its citizens, military and sovereignty because Patriot has a proven track record of defeating ballistic missiles and a host of other aerial threats,” said Wes Kremer, President of Raytheon Integrated Defense Systems. “Patriot in Sweden will enhance Northern European security and further strengthen the Trans-Atlantic partnership by providing a common approach to Integrated Air and Missile Defense.”
Patriot is the backbone of Europe’s defense against ballistic and cruise missiles, advanced aircraft and drones.
European Nations with Patriot: Germany, Greece, the Netherlands, and Spain currently have Patriot. Within the past 12 months Romania and Poland signed Letters of Acceptance for Patriot, becoming the 5th and 6th European nations to procure Raytheon’s Patriot system.