Raytheon on Hook for Millions on New Smart Bomb’s Cost Overruns

  • Weapon’s development seen costing 28% more than expected
  • Contractor may pay up to $71 million as a result of overage

Raytheon Co. may have to pay millions of dollars to cover part of a 28 percent cost overrun on development of the most sophisticated smart bomb planned for the new F-35 jet and 11 other U.S. military aircraft.

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