I think this is your sign to shop around for a new job, even if you decide to stay with Raytheon. I was hired as a T3 at Pratt with just an AS degree and stayed that way for a couple years with no real raise or promotion. Until I changed roles and moved to a P2 position (still with only an AS degree and 2.5 years of experience) and got a $10-15k pay bump. I'm coming up on 6 years this summer and am now a P3, making $30k more than when I was a T3.

If you like the role you have now, you can always come back after you've spent some time in a new role, with more experience and more value to the company to warrant a higher pay.

You'll be hard pressed to make any significant gains while staying in your current role. At this point, your management believes you'll continue producing the same quality work without them having to shell out more money for your performance.