Raytheon books $106 M Paveway II contract
Raytheon Company (NYSE: RTN) booked a $106 million contract for its combat-proven Paveway™ II family of precision-guided munitions. The company was awarded the direct commercial sale from an international customer. The contract includes Paveway™ kits for both GBU-12 (500lb) and GBU-58 (250lb) guided bombs. Paveway™ is a Raytheon-designed kit that transforms "dumb" bombs into precision-guided munitions. The contract order was booked in Raytheon's second quarter of 2013.
"Customers worldwide continue to select Raytheon's Paveway™ to protect their warfighters and citizens," said Harry Schulte, vice president of Raytheon Missile Systems' Air Warfare Systems. "This contract further demonstrates Raytheon's long-standing commitment to its international partners."
Global Missile Industry 2015 Market Research Report
Raytheon continues to evolve Paveway™ to meet the needs of the U.S. armed forces as well as allied nations. The Raytheon Paveway™ family offers precision guidance kits compatible across a broad spectrum of warheads. Enhanced versions of Paveway™ include Global Positioning System/Inertial Navigation System guidance capabilities. These combine the precision and flexibility of traditional laser-guided weapons with the all-weather capability of GPS guidance, resulting in a weapon that decreases the required sortie count and weapons inventory while simultaneously increasing the mission success rate.
Your company’s press release on ASDNews and to thousands of other journalists and editors? Use our ASDWire press release distribution service.
Source : Raytheon Corporation (NYSE: RTN)
Mar 15 - 17, 2016 - London, United Kingdom