Raytheon has been awarded a $101.3 million contract to build radio-controlled, anti-tank missiles for the U.S. Army.

The Defense Department on Friday announced the company was selected to build the tactically launched and optically tracked wireless-guided missiles, or TOW.

The weapon system, which includes TOW 2A, TOW 2B Aero and TOW Bunker Buster versions, is deployed by more than 40 international armed forces and integrated on more than 15,000 ground, vehicle and helicopter platforms.

Raytheon has delivered more than 700,000 TOW weapon systems and expects upgrade programs will extend the missile's life cycle beyond 2050. They were first produced in 1970

"The TOW missile enables ground forces to achieve overmatch against adversary armored and wheeled systems, regardless of the environment or conditions," Raytheon said on its website.

The operator uses an optical missile sight attached to the launcher.

They can be launched from the U.S. Army Stryker, Bradley fighting vehicle, improved target acquisition system multipurpose wheeled vehicles, including a Humvee, and light armored vehicle-anti-tank platforms.

Versions of the missile also can be fired from the U.S. Marine Corps' AH-1W Cobra attack helicopter.

Work will be conducted at Raytheon Missile Systems' plant in Tucson, Ariz., with an estimated completion date of Aug. 31, 2022.

Army fiscal 2017 other procurement funds in the full amount of the contract have been obligated at the time of the award.

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