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  • Friday, November 22, 2024

Army Awards $238M Missile Production Funds to Lockheed-Raytheon JV

A joint venture between Lockheed Martin (NYSE: LMT) and Raytheon Technologies (NYSE: RTN) will continue manufacturing the Javelin man-portable, anti-tank guided munition for soldiers under a $237.9 million contract modification from the U.S. Army.

The service branch used fiscal 2022 missile procurement funds on the award and estimated the partnership will finish work on Nov. 30, 2025, the Department of Defense said Friday.

The Javelin JV is currently providing full-rate production services to the Army and Marine Corps under a $185.6 million firm-fixed-price contract awarded in September 2019.

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