Raytheon receives $60 million TOW missile contract mod

WASHINGTON, Dec. 30 (UPI) -- Raytheon has received a $60 million contract modification for the procurement of tube-launched, optically-tracked, wireless-guided missiles.

The contract modification covers TOW missiles for the U.S. Marine Corps. The weapons are designed to help ground forces engage armored targets such as tanks or other vehicles.

The U.S. Department of Defense says the work will be performed at Raytheon's facility in Tucson, Ariz., and expects it to be complete by Dec. 28, 2018. The Army Contracting Command in Redstone Arsenal, Ala., is listed as the contracting activity.

The TOW missile is a long-range precision weapon equipped on several U.S. Army platforms including Stykers and Bradley Fighting Vehicles. Raytheon is currently contracted to extend the missile's life cycle beyond 2050.