Defense contractor L3Harris Technologies said on Friday it had secured a US Navy deal to develop Red Wolf vehicles for the Marine Corps' precision-strike programme.
The Red Wolf is a long-range, precision-strike missile capable of hitting moving targets including ships at distances beyond 200 nautical miles.
"Our proven Red Wolf system can bring affordable mass to the Marines' arsenal of advanced munitions within the timeline US officials have outlined to support the most lethal fighting force in the world," said CEO Christopher Kubasik of L3Harris.
Last July, the company unveiled two new long-range missiles, "Red Wolf" and "Green Wolf", aimed at providing lower-cost strike options as the US military replenishes weapons stockpiles and strengthens its deterrence posture toward China in the Pacific.
The most basic version of L3's new missile would cost in the $300,000-range once production has reached full rate, L3 executives said.
L3Harris missed Wall Street estimates for fourth-quarter revenue on Thursday.
(Reporting by Apratim Sarkar; Editing by Pooja Desai)
