Sept. 10, 2013
/PRNewswire/ -- The U.S. Army awarded Raytheon Company (NYSE: RTN) a
contract for the procurement of the second lot of the Excalibur Ib artillery round.
Ib is a precision-guided artillery projectile based on Raytheon's combat-proven Excalibur Ia-1 and Ia-2, a 155mm precision-guided, extended-range projectile that uses GPS precision guidance to provide accurate, first round, fire-for-effect capability in any environment.
"No other artillery round comes close to doing what Excalibur does for the warfighter," said
, Raytheon Missile Systems' Excalibur program director. "The Excalibur Ib will not only provide industry-leading precision for the warfighter, it will also improve reliability and lower the unit cost."
With more than 690 rounds fired in theater to date, Excalibur is the revolutionary precision projectile for the U.S. Army and Marines. By using Excalibur's level of precision, there is a major reduction in the time, cost and logistical burden traditionally associated with using artillery munitions. Analyses have shown that on average it takes 10 to 50 conventional munitions to accomplish what one Excalibur can.
Raytheon Company, with 2012 sales of
and 68,000 employees worldwide, is a technology and innovation leader specializing in defense, security and civil markets throughout the world. With a history of innovation spanning 91 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. Raytheon is headquartered in
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SOURCE Raytheon Company