The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from PR Newswire

Raytheon marks Maverick's 40-year legacy of evolving to meet customer needs

Thursday, August 30, 2012

Raytheon marks Maverick's 40-year legacy of evolving to meet customer needs08:30 EDT Thursday, August 30, 2012Versatile precision-guided missile essential in today's battlespaceTUCSON, Ariz., Aug. 30, 2012 /PRNewswire/ -- Raytheon Company (NYSE: RTN) is marking the 40th anniversary of the combat-proven AGM-65 Maverick missile. Maverick was first produced and delivered to the U.S. Air Force in August of 1972. Raytheon has continued to evolve the missile to meet today's needs.Maverick is a versatile precision-guided missile that is effective against a wide variety of fixed, stationary, moving and maneuvering targets, both on land and at sea. With more than 7,800 launched in combat, Maverick is employed by the United States Air Force, Navy, Marine Corps and allied nations, on more than 25 types of aircraft. "Maverick routinely demonstrates its effectiveness against a variety of targets, some at speeds in excess of 70 miles per hour," said Harry Schulte, vice president of Raytheon Missile Systems' Air Warfare Systems product line. "As evidenced by our restart of the Laser Maverick production line, we continue to evolve the missile to meet today's operational requirements and tomorrow's needs."The three seeker choices enable the warfighter to conduct around-the-clock operations. Today's Maverick also features two warhead options: a 300-pound blast fragmentation or a 125-pound shaped charge; both provide lethal effects with minimal collateral damage. In active use by U.S. armed forces today, the infrared-guided AGM-65F Maverick was successfully employed during Operation Odyssey Dawn. The laser-guided Maverick missile (AGM-65E) is a direct-attack, air-to-ground precision munition that is being used by the U.S. Air Force, Navy and Marine Corps in ongoing global operations. Laser Maverick (AGM-65L/E2) features an enhanced laser seeker and new software that reduces the risk of collateral damage. It can use onboard, buddy and/or ground-based lasing to designate targets. In December 2011, the Air Force awarded Raytheon a $25 million contract to restart production of the laser-guided Maverick missile; deliveries are scheduled to begin in late 2012.About RaytheonRaytheon Company, with 2011 sales of $25 billion and 71,000 employees worldwide, is a technology and innovation leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 90 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 Waltham, Mass. For more about Raytheon, visit us at www.raytheon.com and follow us on Twitter at @raytheon.Note to EditorsAGM-65L is the designation for the U.S. Air Force's new Laser Maverick; AGM-65E2 is the U.S. Navy/Marine Corps designation for their new Laser Maverick missile.Raytheon Company Missile SystemsTucson, Ariz.Media ContactJohn B. Patterson+1.520.794.4559rmspr@raytheon.comSOURCE Raytheon Company