Raytheon nabs $38.2M contract for Army TOW missiles

May 29 (UPI) -- Raytheon Co. received a $38.2 million contract for the refinement and maintenance of the U.S. Army's TOW missiles, the Defense Department announced.

The contract calls for improvements to the Tube-launched, Optically-tracked, Wireless-guided weapon systems, including configuration management, fielding service, logistics support, and contractor repair, the Defense Department said on Tuesday.

The missile, predominately in use as an anti-tank weapon, is the successor to a wire-guided variant in use since 1970. It is one of the most widely used anti-tank guided missiles in the world, with over 690,000 built and the system in use by 45 countries.

The TOW missile has semi-automatic guidance, and in its newer, wireless guidance version, keeps the target in the line of sight until the missile impacts. An optical sensor on the sight continuously monitors the position of the missile in relation to the target. It can be launched from ground vehicles and helicopters.

The contract announced on Tuesday calls for work locations to be determined, with a completion date of May 31, 2024.