A joint venture of Lockheed Martin (NYSE: LMT) and RTX‘s (NYSE: RTX) Raytheon business has received a potential $1.3 billion follow-on contract from the U.S. Army to produce Javelin missiles and supply related equipment and services for the military branch.
The companies said in a joint release published Thursday the follow-on award is part of a potential $7.2 billion indefinite-delivery/indefinite-quantity contract awarded in May 2023 to manufacture Javelin systems and associated equipment between fiscal years 2023 and 2026.
Since 2023, the Lockheed-Raytheon JV has started ramping up Javelin production to reach 3,960 units per year by late 2026.
The new contract includes the production of more than 4,000 Javelins to replenish the missiles sent to Ukraine and seeks to support the increased demand worldwide for the weapons system, including new customer Kosovo.
The JV has manufactured more than 50,000 Javelins and over 12,000 reusable command launch units through the respective facilities of Raytheon and Lockheed in Tucson, Arizona, and Orlando, Florida.
Javelin is a shoulder-fired anti-armor system designed to enable warfighters to defeat main battle tanks and other known and projected armor on the battlefield.
