Excalibur Ib enters full rate production and receives $52 million award

TUCSON, Ariz., July 31, 2014 /PRNewswire/ -- Raytheon Company's (NYSE: RTN) Excalibur Ib precision guided projectile has entered full rate production (FRP). U.S. Army approval of FRP completes Excalibur Ib's low rate initial production phase.  Additionally, the U.S. Army has awarded Raytheon $52 million for continued Excalibur Ib production.

"The full rate production decision is the culmination of superb teamwork between the U.S. Army and Raytheon," said Lieutenant Colonel Josh Walsh, U.S. Army Excalibur product manager. "I am proud of the combined team's effort that is putting the world's finest cannon artillery munition into the hands of our warfighters."

Earlier this year, the Army approved Excalibur Ib for Full Materiel Release (FMR) and awarded the projectile a Type Classification-Standard. That means Excalibur is safe for soldiers; it has been fully tested; it meets operational performance requirements, and it can be supported logistically within its intended operational environment.

"International interest in Excalibur has risen sharply during the last year," said Michelle Lohmeier, Raytheon Land Warfare Systems vice president. "The Army's approval of FMR and the decision to enter full rate production represent major milestones that many potential customers have eagerly anticipated."  

"Excalibur has revolutionized cannon artillery, making it possible to engage targets precisely at long ranges while avoiding collateral damage, a capability that appeals to military leaders around the world," Lohmeier added.

In recent tests, all projectiles scored direct hits on their intended targets. The projectile's reliability, lethality and range are in excess of Army requirements and at all-time highs, while the unit cost has dropped significantly during the program's lifetime.

Raytheon is also developing Excalibur S, which incorporates a laser spot tracker in Excalibur's guidance section. Excalibur S was tested successfully on May 7th at Yuma Proving Grounds.

With Excalibur N5, a 5 inch/127mm variant of the projectile, Raytheon is bringing this proven technology to the maritime domain. A live fire demonstration of the Excalibur N5 is planned for later this year.

About Excalibur
Excalibur is a revolutionary precision guided projectile that provides warfighters a first round effects capability in any environment. Excalibur is cannon artillery's only long range true precision weapon.

• Combat proven: Nearly 750 Excalibur rounds have been fired in combat
• Precise: Excalibur consistently strikes less than two meters from a precisely-located target
• Responsive: Excalibur dramatically reduces mission response time
• Safe: Excalibur's precision practically eliminates collateral damage and has been employed within 75 meters of supported troops
• Affordable: With its first round effects, Excalibur reduces total mission cost and the user's logistics burden
• Growing: Raytheon is adding a Laser Spot Tracker to mitigate target location error and enable engagement of moving targets
• Entering New Markets: With Excalibur-N5, a five-inch naval variant, Navies will be able to deliver extended range, precision naval surface fires

Excalibur is a cooperative program between Raytheon and BAE Systems Bofors.

About Raytheon
Raytheon Company, with 2013 sales of $24 billion and 63,000 employees worldwide, is a technology and innovation leader specializing in defense, security and civil markets throughout the world. With a history of innovation spanning 92 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 cyber security and 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 @Raytheon.

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SOURCE Raytheon Company