Raytheon signs $55m deal for Saudi National Guard

US defence contraction Raytheon Co has secured a $55m contract to supply wireless-guided missiles to the US government as part of a foreign military sale to Saudi Arabia’s National Guard.

The weapons are known as TOW missiles, which stands for tube-launched, optically-tracked, wireless guided 2A radio frequency missiles, and are favoured for their precise targeting.

“On today's battlefield, potential targets are hiding in caves, behind boulders or in the mountains," said Shawn Ball, TOW international business development manager, Raytheon.

“[They] are more than capable of taking out these kinds of targets.”

According to Raytheon, the missiles are the most-used precision heavy assault weapons. They are used by 40 countries on more than 1,000 airborne and ground platforms.

Oil-rich Saudi Arabia last year invested $39.26bn in defence spending, more than double that of any other Gulf state. The kingdom, which is the second most populous Arab state, last year had a per capita military spend of $1,344.

Last year, Raytheon took sales of $25bn. The firm employs more than 75,000 people worldwide.