The U.S. Air Force awarded Raytheon Company (NYSE: RTN) a $170 million Foreign Military Sales contract to produce AGM-65D and AGM-65G2 infrared-guided Maverick air-to-surface missiles for the United Arab Emirates.

The AGM-65 Maverick family of precision-attack missiles is used by the air, naval and marine forces of 33 countries. More than 69,000 missiles have been produced to date, and more than 6,000 have been used in combat with a 93 percent success rate.

"Raytheon's Maverick is an affordable, combat-proven missile integrated on more than 25 aircraft with a history of on-cost and on-schedule delivery," said Harry Schulte, vice president of Raytheon Missile System's Air Warfare Systems' product line.

"While the Maverick family is a best-value solution for the warfighter who needs a direct-attack weapon, the infrared-guided Maverick is ideally suited to counter high-speed maneuvering sea targets such as swarming boats."

Raytheon will build and provide life-cycle support for more than 500 new missiles. The company began production of the missile's IR guidance and control sections in November 2008.