Lockheed Martin Corp. and the team of Raytheon Co. and Boeing Co. said separately on Monday that they submitted bids for work on a Pentagon air-to-ground missile program.
Monday was the deadline for companies to submit bids to the U.S. Army’s aviation and missile command.
The joint air-to-ground weapon, or JAGM, is expected to replace the Airborne TOW, Maverick and Hellfire missiles used by the U.S. Army, Navy and Marine Corps. The Defense Department is expected to use the system in fighter jets and attack and reconnaissance helicopters.
Lockheed said its bid built on previous guided-missile systems in use today. It said production lines were still in place for previous systems, holding down costs.
Raytheon and Boeing said they showed their ability in a demonstration phase for the contract, saying that they scored a 3-for-3 success rate in tests of their system, which includes semiactive laser and imaging infrared technology.
In afternoon trading, Lockheed shares rose $1.02 to $77.30; Raytheon fell 9 cents to $48.72; and Boeing dropped 11 cents to $74.73.