Raytheon Company (NYSE: RTN) received a $349 million five-year, multi-year contract to provide heavy anti-tank, wireless precision-assault missiles for the U.S. government. Raytheon received the award during its third quarter.
Under this contract, Raytheon will deliver 6,676 of the new wireless TOW (tube-launched, optically tracked, wireless-guided) missiles that receive commands from the gunner through a wireless guidance link, eliminating the wire connection in early generations of the missile.
"TOW has been one of the most fired weapons in history, and the upgrade to wireless gives our warfighters an improved capability," said Michelle Lohmeier, vice president of Land Combat for Raytheon Missile Systems. "With this contract, we are partnering with the U.S. Army to ensure our warfighters continue to have this life-saving weapon for years to come."
With the wireless system built into the missile and the missile case, the next-generation TOW works with existing launch platforms, including the Improved Target Acquisition System, Improved Bradley Acquisition System, TOW2 Subsystem and M220 Ground TOW. The system performs exactly like the wire-guided version, enabling soldiers and Marines to continue using the proven weapon without changing tactics or incurring additional training.
"TOW remains the U.S. Army and Marine Corps' primary heavy anti-tank and precision-assault weapon," said Scott Speet, Raytheon Missile Systems' TOW program director. "It is currently deployed on more than 4,000 TOW launch platforms including the Army Stryker, Bradley Fighting Vehicle System and High Mobility Multipurpose Wheeled Vehicle."
Source: Raytheon Corporation (NYSE: RTN)
Date: Oct 8, 2012