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Raytheon to Manufacture Precision-Guided Missiles for Navy


Raytheon logoRaytheon (NYSE: RTN) has been awarded a potential $54.9 million contract to provide the U.S. Navy close air support missiles designed to help warfighters hit sea and ground targets.

The company will produce an unspecified number of its AGM-65E2/L Maverick laser-guided weapon system for the service, Raytheon said Thursday.

Maverick was upgraded to integrate with A-10C, F/A-18, AV-8B and F-16 aircraft platforms and incorporate a software program that aims to cut risk of collateral damage.

Other new features of the system include a digital laser seeker, flight algorithms and a precision technology designed to engage high-speed moving targets, according to Raytheon.

The Maverick modernization is a joint military program of the Air Force and Navy.

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