Raytheon (NYSE: RTN) received a $173 million deal from the Army to fund production of Excalibur precision-guided projectile rounds for in-theater use.
According to the firm, “Excalibur is a 155 mm precision-guided artillery round with extended range that is currently in use with the U.S. Army and Marine Corps. Using GPS precision guidance technology, Excalibur provides first round fire-for-effect capability with accuracy well within 10 meters of its target. This accuracy protects warfighters in close proximity to the target and provides an unprecedented precision engagement capability.”
“Warfighters need Excalibur because it provides a level of precision they simply cannot get with other artillery rounds, ” said Col. Michael Hartig, U.S. Army Fires Center of Excellence. “Excalibur’s GPS precision makes it ideal in all terrain types, including urban settings and rugged terrain where our soldiers and Marines are close to the target.”