Raytheon Secures $450M Missile Deal From U.S. Air Force

TUCSON, Ariz. (AP) — Raytheon Co. has won a lucrative missile contract from the U.S. Air Force.

The company announced it was awarded $450 million to design, engineer, manufacture and develop a new air-launched, precision-strike missile that can defeat moving and fixed targets during bad weather.

Delivery is expected to begin in 2013 with a required assets available date in late 2014.

It is unclear where the missile will be manufactured.

Waltham, Mass.-based Raytheon is southern Arizona's largest employer.