Author: Regina Garcia|| Date Published: May 4, 2023
A partnership between Lockheed Martin (NYSE: LMT) and Raytheon Technologies (NYSE: RTN) will manufacture man-portable, anti-tank guided munition systems for domestic and international defense customers under a U.S. Army contract worth potentially $7.2 billion.
The award to Javelin Joint Venture has a base value of $1.02 billion and covers weapon procurement activity through fiscal year 2026, the service branch said Wednesday.
“This contract award further illustrates the urgency the U.S. government is applying to the acquisition of systems and replenishing munitions stockpiles,” said Army acquisition chief Doug Bush, a 2023 Wash100 honoree.
Raytheon noted a single person can carry and launch the Javelin system and the weapon offers military customers a “fire-and-forget” missile technology designed to help them hit targets.
The munition is equipped with an imaging infrared seeker and a tandem warhead.
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