Raytheon has received a $249m contract from the US Marine Corps (USMC) Logistics Command to refurbish USMC's vehicles, as part of its Secondary Reparable (SECREP) programme.
Under the contract, which comes with options over five years, the company will rebuild vehicle parts such as engines, transmissions and electronics.
The SECREP programme allows purchase of refurbished mission critical components for USMC ground equipment at approximately half the price of new items.
This sustainment programme is designed to make available millions in cost savings for re-investment into USMC logistics to help ensure the readiness of the mission-essential vehicles.
Raytheon IIS Mission Support and Modernisation vice-president Todd Probert said: "Raytheon finds creative approaches to solutions to enable more mission at less cost.
"We are a proven, low-risk sustainment partner of choice as military procurement shifts from buying new platforms and vehicles to maintaining and adding capabilities to existing equipment."
Work under the current contract will cover approximately 1,000 different items that will be serviced by a network of original equipment manufacturers, military depots and small business suppliers.
In a separate development, Raytheon has also been awarded a $365m contract by the US Navy to produce and deliver Aegis Weapon System AN/SPY-1D(V) radar transmitter group, missile fire control system MK 99 equipment, and associated engineering services.
The contract covers purchases for the US Navy and the Republic of Korea and Japan Governments under the foreign military sales programme.
Work will be carried out at the company's facilities in Massachusetts, New Jersey, Virginia, US, and Canada. It is expected to be completed by October 2022.