Raytheon Wins $422M Contract for Paveway II
Raytheon Company (NYSE: RTN) was awarded a $422 million contract for its combat-proven Paveway™ II family of precision-guided munitions. The company was awarded the direct commercial sale from an international customer. Paveway™ is a Raytheon-designed kit that transforms "dumb" bombs into precision-guided munitions.
Raytheon continues to evolve Paveway™ to meet the needs of the U.S. armed forces as well as allied nations. Newer versions of Paveway™ include Global Positioning System/Inertial Navigation System guidance capabilities, which combine the precision and flexibility of traditional laser-guided weapons with the all-weather capability of GPS guidance, resulting in a weapon that decreases the required sortie count and weapon inventory while simultaneously increasing the mission success rate.
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