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Lockheed-Raytheon JV wins $309 million Javelin missile contract from U.S. army

Economy May 17, 2022 02:51PM ET
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© Reuters. FILE PHOTO: Ukrainian service members hold a Javelin missile system, at a position on the front line in the north Kyiv region, Ukraine March 13, 2022. REUTERS/Gleb Garanich/File Photo

(This May 16 story corrects headline and paragraph 1 to clarify contract was awarded to the JV, not Lockheed.)

(Reuters) - A joint venture between Lockheed Martin Corp (NYSE:LMT) and Raytheon Technologies (NYSE:RTX) Corp has been awarded two contracts worth $309 million by the U.S. army for its Javelin missiles, the antitank weapon that has helped Ukraine fight Russia's invasion, Lockheed said on Monday.

The Javelin missiles are made jointly by Lockheed and Raytheon (NYSE:RTN)'s missile unit.

Demand for Javelin missiles remains high as the war in Ukraine worsens, where they were used to stop Russian tanks from advancing on the capital, to an artillery battle in Ukraine's east.

So far, the United States has sent more then 5,500 Javelin systems to Ukraine.

The defense contractor added that the contracts include more than 1,300 Javelin missiles funded from the recent Ukraine Supplemental Appropriations Act and orders for several international customers including Norway, Albania, Latvia and Thailand.

Lockheed also said that it is working to increase its missile production rate beyond the current 2,100 per year.

Lockheed-Raytheon JV wins $309 million Javelin missile contract from U.S. army
 

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Comments (3)
Sam Dur
Sam Dur May 17, 2022 11:02PM ET
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Why? Why do we protect Ukraine? They wanted to join NATO, to be a partner in the anti-Russia military block. Russia cleatly declared it will not stand this threat to its' national security before the invasion, statements ignored and neglected by the US. Instead of finding a peace solution for this mistake - the West keeps bullying Russia. What a mad world we live in...
Henrik Lindberg
Henrik May 17, 2022 11:02PM ET
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Because Russia invaded Ukraine.
ZS Beck
ZS Beck May 17, 2022 3:05PM ET
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So basically we are giving away for free, than from my taxes we are buying new ones. Great
Don Getty
Don Getty May 17, 2022 3:05PM ET
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yes, but by smacking putin now in Ukriane your not getting ww3 and a bunch of US soldier on the front lines - this will hurt russia way more and make the world a safer place - also there will be all those rebuilding Ukraine contracts for US companies eventually
ZS Beck
ZS Beck May 17, 2022 3:05PM ET
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We are 1 step closer to WW3 my friend.Russia, Iran, and China will ally. Not all of the world agrees with the US and western foreign policy.
Henrik Lindberg
Henrik May 17, 2022 3:05PM ET
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Iran got their own internal problems. Just look at the news what's going on
Kate Davis
Kate Davis May 17, 2022 3:02PM ET
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DC swamps family and friends are getting taking cared very well.
 
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