Javelin JV Wins $176M Contract

Recently, the United Kingdom’s Defense Ministry awarded a $176 million contract to Raytheon Co. (RTN - Analyst Report) and Lockheed Martin Corp.’s (LMT - Analyst Report) Javelin Joint Venture. The joint venture’s Missiles & Fire Control division in Orlando received an order to produce more than 1,300 Javelin missiles.
 
The two companies have operated this joint venture to produce the Javelin handheld missile system since the mid-1990s. Under the terms of the contract, the joint venture will deliver Javelin missiles to UK’s Defense Ministry from 2010 through 2012.
 
Javelin is the world's first man-portable, fire-and-forget, multipurpose missile system. The compact, lightweight missile is designed for one-soldier operations in all environments. The Javelin enhances direct-fire capability against armored vehicles, buildings and field fortifications. Using the Javelin missile system, a single infantryman can engage and defeat targets at ranges up to two and a half kilometers (1.6 miles). Javelin is currently in service with the U.S. Army and Marine Corps, as well as 11 allied militaries.
 
Raytheon is a technology and innovation leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 87 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as a broad range of mission support services. The company reported 2008 sales of $23.2 billion.
 
Lockheed Martin is a global security company and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The corporation reported 2008 sales of $42.7 billion.

Read the full analyst report on RTN

Read the full analyst report on LMT