AMMAN, Jordan, May 10, 2010 /PRNewswire/ -- The U.S. Air Force awarded Raytheon Company (NYSE: RTN) $34.4 million to continue design work on the AGM-65E2/L laser-guided Maverick missile, the newest variant of the Maverick. The contract requires Raytheon to develop, integrate and test the missile's guidance and control section.

"The laser-guided Maverick is an ideal weapon for urban combat and high-speed maneuvering targets," said Harry Schulte, vice president of Raytheon Missile System's Air Warfare Systems product line. "The combat-proven Maverick is integrated on more than 25 aircraft in 33 nations, and we hope to have the newest addition to the Maverick family available for export soon."

The laser-guided Maverick will have an enhanced laser seeker and new software, reducing the risk of collateral damage and enabling aviators to use onboard aircraft lasers to designate targets.

Raytheon Company, with 2009 sales of $25 billion, is a technology and innovation leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 88 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. With headquarters in Waltham, Mass., Raytheon employs 75,000 people worldwide.

Note to Editors:

The AGM-65E2 is the U.S. Navy and Marine Corps' variant of the laser-guided Maverick; the AGM-65L is the U.S. Air Force variant.

SOURCE Raytheon Company