Raytheon awarded 1st international contract for Paveway IV
Raytheon Company received a contract from an international customer for Paveway™ IV precision guided bombs valued at more than $200m. As part of the sale Raytheon will deliver hundreds of the advanced munitions, which are regarded as the 'weapon of choice' for the Royal Air Force. The contract represents the first sale of Paveway™ IV outside the U.K.
"This contract is an export boost to the U.K. It will help support hundreds of manufacturing and engineering jobs at Raytheon's facilities and in the supply chain across the U.K.," said Richard Daniel, Chief Executive, Raytheon UK. "Developed in Harlow, with the advanced guidance system produced in Glenrothes, Paveway IV™ has delivered considerable operational capability to the U.K. and allied forces in numerous military operations."
Global Missiles and Missile Defense Systems Market 2014-2018
The Paveway™ family of laser-guided and GPS and laser-guided bombs has revolutionized tactical air-to-ground warfare by converting "dumb" bombs into precision-guided munitions. Bombs equipped with Paveway™ kits have been put to the test and proved themselves, time and again, as the weapon of choice by 43 customers. Paveway™ laser-guided bomb kits comprised more than half the air-to-ground precision-guided weapons used in Operation Iraqi Freedom, Enduring Freedom and Unified Protector.
Source : Raytheon Corporation (NYSE: RTN)