Kennedy told analysts Raytheon also expected several new U.S. weapons development programs to move into production in coming years, which could drive a return to growth in domestic revenues late next year or early in 2017 and international sales remained strong.

"Both on the domestic and international, we see a significant pipeline that will take us well beyond 2020," he said.

(Reporting by Andrea Shalal; Editing by Chizu Nomiyama)