The U.S. Air Force awarded Raytheon $34.4 million to continue design work on the AGM-65E2/L laser-guided Maverick missile, the newest variant of the Maverick. The contract requires Raytheon to develop, integrate and test the missile's guidance and control section.

"The laser-guided Maverick is an ideal weapon for urban combat and high-speed maneuvering targets," said Harry Schulte, vice president of Raytheon Missile System's Air Warfare Systems product line.

"The combat-proven Maverick is integrated on more than 25 aircraft in 33 nations, and we hope to have the newest addition to the Maverick family available for export soon."

The laser-guided Maverick will have an enhanced laser seeker and new software, reducing the risk of collateral damage and enabling aviators to use onboard aircraft lasers to designate targets.