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Sunday, August 15, 2010

Lockheed-Raytheon team gets $309 million contract for Javelin missiles

FGM-148 JavelinLockheed Martin Corp.'s Orlando missiles operation and teammate Raytheon Co. have landed a $309 million Army contract to produce Javelin missile-firing systems for infantry troops, the companies said Friday.

The Lockheed-Raytheon team shares revenue from the advanced weapons program, which has been around since the mid-1990s.

Javelin, a portable, shoulder-fired missile, is one of the U.S. military's most sophisticated precision-guided weapons. Considered an "exotic" weapon 20 years ago, the Javelin system has been widely used by the U.S. in the wars in Iraq and Afghanistan.

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