Raytheon (NYSE: RTN) has received a potential $110 million indefinite-delivery/indefinite-quantity contract from the U.S. Air Force to produce, certify, integrate and sustain Paveway laser-guided bombs.
The Defense Department said Thursday the contract also offers a total-package acquisition approach for foreign military customers, such as the Philippines, that actively leverage or have expressed interested in buying Paveway bombs.
Raytheon will perform contract work in Tucson, Ariz., through Feb. 9, 2029.
The Paveway family of weapons is designed to convert œdumb bombs into precision-guided munitions and its latest variants include global positioning system/inertial navigation system guidance tools.
