Raytheon awarded $676M contracts for its TOW weapon system by US Army

Raytheon, an RTX (RTX) business, was awarded $676M to continue manufacturing the tube-launched, optically-tracked, wireless-guided TOW weapon system for the U.S. Army. The two separate awards comprise an annual production contract for $430M in FY23 and an additional $246M award in 2024. Raytheon continues to improve TOW’s design with modernized fuzing and target detection. These upgrades were recently demonstrated in successful Fly-To-Buy lot acceptance tests of the latest TOW 2B variant of the missile. Improvements to the overall missile design and packaging will help meet the latest military environmental requirements to support evolving logistical and terrain challenges. This testing milestone ensures TOW users around the world have the latest and most effective weapon system for their deterrence and defensive needs.