IMI and Raytheon to Jointly Develop Precision Munition

Over one-third of the production will be performed in Israel by Israeli Military Industries. The first shipment of Precision Extended Range Munition (PERM) will be sent to the Marine Corps by 2020

Raytheon was awarded a $98 million contract for the procurement of the projectile, 120 mm Precision Extended Range Munition (PERM). 39% of the work will be performed in Ramat Hasharon, Israel (source). The first delivery order to the Marine Corps is expected to be completed by December 2020.

The Precision Extended Range Munition (PERM), a US Marine Corps program, is a precision mortar munition, fired from the Expeditionary Fire Support System and guided to a specific target. The Raytheon PERM solution uses GPS guidance with a unique, aerodynamic design to improve accuracy. According to the Company, it has double the range of current ballistic mortars while reducing collateral damage, logistical requirements and target bracketing.

The contract with the US Marine Corps will have a maximum 60-month effective period, with five 12-month ordering periods.

Work will be performed in Israel, Arizona, Iowa and additional locations. Raytheon's PERM team has partnered with Israeli Military Industries (IMI) in order to supply the weapon systems.