Raytheon Company's (NYSE: RTN) Excalibur Ib precision guided projectile has entered full rate production (FRP). U.S. Army approval of FRP completes Excalibur Ib's low rate initial production phase. Additionally, the U.S. Army has awarded Raytheon $52 million for continued Excalibur Ib production.
"The full rate production decision is the culmination of superb teamwork between the U.S. Army and Raytheon," said Lieutenant Colonel Josh Walsh, U.S. Army Excalibur product manager. "I am proud of the combined team's effort that is putting the world's finest cannon artillery munition into the hands of our warfighters."
Earlier this year, the Army approved Excalibur Ib for Full Materiel Release (FMR) and awarded the projectile a Type Classification-Standard. That means Excalibur is safe for soldiers; it has been fully tested; it meets operational performance requirements, and it can be supported logistically within its intended operational environment.
"International interest in Excalibur has risen sharply during the last year," said Michelle Lohmeier, Raytheon Land Warfare Systems vice president. "The Army's approval of FMR and the decision to enter full rate production represent major milestones that many potential customers have eagerly anticipated."
"Excalibur has revolutionized cannon artillery, making it possible to engage targets precisely at long ranges while avoiding collateral damage, a capability that appeals to military leaders around the world," Lohmeier added.
In recent tests, all projectiles scored direct hits on their intended targets. The projectile's reliability, lethality and range are in excess of Army requirements and at all-time highs, while the unit cost has dropped significantly during the program's lifetime.
Raytheon is also developing Excalibur S, which incorporates a laser spot tracker in Excalibur's guidance section. Excalibur S was tested successfully on May 7th at Yuma Proving Grounds.
With Excalibur N5, a 5 inch/127mm variant of the projectile, Raytheon is bringing this proven technology to the maritime domain. A live fire demonstration of the Excalibur N5 is planned for later this year.
Excalibur is a revolutionary precision guided projectile that provides warfighters a first round effects capability in any environment. Excalibur is cannon artillery's only long range true precision weapon.
Excalibur is a cooperative program between Raytheon and BAE Systems Bofors.
Source: Raytheon Corporation (NYSE: RTN)
Date: Jul 31, 2014