US Navy awards Raytheon $49.5 million enhanced Laser Maverick production contract

TUCSON, Ariz. , Oct. 16, 2014 /PRNewswire/ -- The U.S. Navy has awarded Raytheon Company (NYSE: RTN ) a $49.5 million contract for production of new laser-guided Maverick missiles (AGM-65E2/L). The Navy also intends to exercise a contract option to purchase additional units bringing the total contract value to $54.9 million .

The Maverick weapon system, a U.S. Air Force (USAF)-led joint service program, is a forward firing, precision-guided, close air support missile. Maverick is effective against a wide variety of fixed, stationary, moving and maneuvering land and sea targets.

"The Navy has an operational need for increasing its inventory of this lethal and combat proven weapon," said Capt. Albert Mousseau Jr. , U.S. Navy program manager, PMA-242. "Enhanced Laser Maverick enables warfighters to engage today's fast-moving, agile targets."

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The new Laser Maverick (AGM-65E2/L) includes these enhancements:

Proven compatibility with existing F/A-18, AV-8B, F-16 & A-10C operational flight program integration

"The enhanced Laser Maverick provides the U.S. warfighter with even greater capabilities that will meet today's and tomorrow's threats," said Mike Jarrett , Raytheon Air Warfare Systems vice president. "This is the latest step for this impressive weapon as we continue to work to ensure that future requirements are met."

The enhanced Laser Maverick is a result of a comprehensive USAF and USN Developmental Testing/Operational Testing program that was completed in 2011.

Raytheon Company, with 2013 sales of $24 billion and 63,000 employees worldwide, is a technology and innovation leader specializing in defense, security and civil markets throughout the world. With a history of innovation spanning 92 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as cyber security and a broad range of mission support services. Raytheon is headquartered in Waltham, Mass. For more about Raytheon, visit us at and follow us on Twitter @Raytheon .

AGM-65E2 is the US Navy/Marine Corps designation for their new Laser Maverick missile. AGM-65L is the designation for the USAF's new Laser Maverick.

Source: Raytheon Company
Date: Oct 16, 2014