PARIS, June 16, 2014 /PRNewswire/ -- Raytheon Company (NYSE: RTN) and Thales have signed a 27-month development and five-year production agreement in support of future improvements of Raytheon's tube-launched, optically-tracked, wireless-guided (TOW) weapon system.
Thales has committed a £13.5M (~$20.2 million) investment in the design and qualification of two new TOW missile subassemblies that will address obsolescence, increase system fuze safety and reduce total missile cost.
"Re-investing in the TOW weapon system for the U.S. government, our international partners and TOW users around the globe ensures increased capability and enables Raytheon to continue delivering affordable precision," said Michelle Lohmeier, vice president of Raytheon Missile Systems' Land Warfare Systems product line. "This development activity will enable increased safety compliance and warfighter survivability while addressing obsolescence issues and incorporating cost saving technologies."
TOW is recognized as a preferred heavy assault anti-armor weapon system for NATO, coalition, United Nations and peacekeeping operations worldwide.
"We have a long standing relationship for the supply of high performance missile electronic systems to Raytheon Missile Systems," said Stuart Boulton, Thales's Vice President, Global missile electronics business. "We are delighted to be working in the Raytheon team to support the development of the new TOW weapon system."
- The tube-launched, optically-tracked, wireless-guided (TOW) weapon system, with the multimission TOW 2A, TOW 2B, TOW 2B Aero and TOW Bunker Buster missiles, is the premier long-range, precision anti-armor, anti-fortification and anti-amphibious landing weapon system used throughout the world today.
- The TOW weapon system is expected to be in service with the U.S. military beyond 2025.
- TOW is in service in more than 40 international armed forces and integrated on more than 15,000 ground, vehicle and helicopter platforms worldwide.
- Raytheon has delivered more than 675,000 TOW missiles to U.S. and allied warfighters
Thales is a global technology leader in the Aerospace, Transportation and Defence & Security markets. In 2013, the company generated revenues of €14.2 billion with 65,000 employees in 56 countries. With its 25,000 engineers and researchers, Thales has a unique capability to design, develop and deploy equipment, systems and services that meet the most complex security requirements. Thales has an exceptional international footprint, with operations around the world working with customers and local partners. www.thalesgroup.com
Raytheon Company, with 2013 sales of $24 billion and 63,000 employees worldwide, is a technology and innovation leader specializing in defense, security and civil markets throughout the world. With a history of innovation spanning 92 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 cyber security and a broad range of mission support services. Raytheon is headquartered in Waltham, Mass. For more about Raytheon, visit us at www.raytheon.com and follow us on Twitter @Raytheon.
SOURCE Raytheon Company