More TOW Missiles from Raytheon (RTN)

by: Matthew Potter
October 8, 2012

Category: Business Line, Companies, Contract Awards, Department of Defense, Events, Lockheed Martin, production program, Raytheon, Services, U.S. Army | RSS 2.0

As the new Fiscal Year starts and despite the threat of sequestration and the associated reduction in spending the Pentagon continues to award contracts for equipment and services. One of the most recent is to Raytheon (RTN) for production of TOW anti-tank missiles.

The contract is worth almost $350 million and will provide for 5 years of production and will deliver almost 7,000 of the missiles. These are new versions of the systems which will rely on wireless guidance. In the past the TOW had been controlled through a thin wire connecting the missile to the launcher.

The TOW is fired from helicopters, a variety of vehicles as well as ground mounts and is used by the U.S. Army and Marine Corps. The larger Hellfire made by Lockheed Martin (LMT) is laser guided and is primarily used from helicopters such as the AH-64D Apache.

These types of missile have seen heavy use in Iraq and Afghanistan primarily for destroying point targets such as buildings and unarmored vehicles rather then their original planned use as heavy anti-tank weapons.

Until the final resolution of sequestration or the FY13 budget these types of contracts will continue to be awarded.

Photo from U.S. Army flickr photostream.

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