Raytheon warhead failure costs Pentagon $1B

Filed under: AM Roundup |

Test failures of Raytheon’s interceptors, the most advance missile interceptors, will cost the Pentagon $1 billion to remedy the failures, said Bloomberg.

The cost estimate includes the two failed tests of the interceptor in January and December 2010, a board to review what went wrong, warhead redesign, further upgrades and at least two more flight tests to be carried out through 2013, according to the Missile Defense Agency. Congressional auditors estimate the cost may exceed $1.2 billion.

Read more at Bloomberg.