A partnership between Lockheed Martin (NYSE: LMT) and Raytheon (NYSE: RTN) has landed a potential four-year, $185.6M contract to manufacture man-portable anti-tank weapon systems for the U.S. Army, Navy and Marine Corps.
The firm-fixed-price contract covers full rate production of Javelin all up rounds, a vehicle launcher, battery coolant units, outdoor trainers, an instruction station, electronic components and tripods, the Department of Defense said Thursday.
The Javelin Joint Venture will also retrofits the system's command launch unit.
Contract work will take place in Tucson, Ariz., through Aug. 31, 2023.
DoD noted the full obligated amount at the time of award is from the service branches' fiscal 2018 and 2019 procurement funds.
Javelin is designed to help infantry troops hit a wide array of targets with fire-and-forget, medium-range missiles.