Lockheed, Raytheon Secure $1.3 Billion Javelin Missile Contract
RTXRaytheon Technologies(RTX) ZACKS·2024-08-31 01:30

Lockheed Martin Corporation (LMT) and Raytheon, part of RTX Corporation (RTX) , have been awarded a 1.3billionfollow−oncontractbytheU.S.ArmyforJavelinmissiles.ThesemissileshaveplayedasignificantroleinUkraine′sdefense.Thislatestagreement,whichbuildsonalargercontractfromlastyear,couldtotalupto1.3 billion follow-on contract by the U.S. Army for Javelin missiles. These missiles have played a significant role in Ukraine's defense. This latest agreement, which builds on a larger contract from last year, could total up to 7.2 billion for an indefinite quantity of missiles between 2023 and 2026.The companies have been increasing Javelin production to meet rising demand and aim to achieve an annual man ...