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  • Friday, November 22, 2024

Lockheed, Raytheon Partnership Receives 2 Anti-Tank Weapon Production Contracts Totaling $309M

Lockheed Martin (NYSE: LMT) and Raytheon Technologies‘ (NYSE: RTX) Javelin Joint Venture received a pair of contracts worth potentially $309 million combined from the U.S. Army to produce anti-tank weapon systems.

The partnership could manufacture more than 1,300 Javelin missiles with appropriations under the Ukraine Supplemental Appropriations Act and orders from multiple foreign countries, Lockheed said Monday.

Albania, Latvia, Norway and Thailand ordered the Javelin weapon system.

The awards come as the Bethesda, Maryland-based company looks to exceed its current annual missile production capacity of 2,100 units.

Raytheon also plans to increase the number of reusable lightweight command launchers produced annually.

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