June 08 2011
Both Lockheed Martin and Raytheon have submitted separate proposals for the next phase of the Pentagon's Joint Air-to-Ground Missile (JAGM) program, Defense News reports.
The JAGM, intended to replace AGM-114 Hellfire, BGM-71 TOW and AGM-65 Maverick missiles, is estimated to be worth more than $6 billion over 20 years.
The defense firms are competing for a $3.8 million 48-month contract to continue development and begin low-rate initial production on the weapon.
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