A joint venture of Lockheed Martin (NYSE: LMT) and Raytheon (NYSE: RTN) has received a five-year, $133.9 million contract modification from the U.S. Army for the delivery of Javelin equipment and associated parts to three foreign military sales customers.
The Defense Department said Tuesday Javelin Joint Venture will provide non-recurring engineering services and Javelin containerized all-up rounds, command launch units and vehicle launcher-electronics to Jordan, Qatar and Taiwan.
Javelin is designed to automatically engage a target after launch providing an opportunity for soldiers and marines to immediately reposition themselves, reload, take cover and escape potential counterfire.
Raytheon and Lockheed have jointly developed and produced the Javelin system for the Army and U.S. Marine Corps.
The Army obligated the full amount of the modification from its “other” procurement funds at the time of award.
Work will occur in Tucson, Arizona, through Aug. 31, 2020.
