October 7, 2009 (FinancialWire) — Javelin, a joint venture of defense contractors Raytheon Co. (NYSE: RTN) and Lockheed Martin (NYSE: LMT), has received a $214 million U.S. Army contract for the production of the Javelin close combat weapon system.

The contract includes the Javelin missile, command launch units, and training and field support.

Javelin is a man-portable, fire-and-forget, medium-range missile system. The compact, lightweight missile is designed for one-soldier operations in all environments, according to the companies.

Waltham, Massachusetts-based Raytheon posted 2008 sales of $23.2 billion.

Bethesda, Maryland-based Lockheed Martin reported 2008 sales of $42.7 billion.

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