The Air Force awarded Raytheon $45.5 million for the service’s Fiscal 2005 procurement of Paveway II laser guided bomb kits. The Paveway kits transform conventional bombs into precision guided weapons and were successfully deployed on 8,700 bombs dropped in Operation Iraqi Freedom.
The U.S. military conducted strikes on Iranian targets around the Strait of Hormuz on May 7, as the conflict with Iran flared up again—though officials say the ceasefire remains in effect.