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Raytheon and Emirates Advanced Investments of the United Arab Emirates have signed a cooperative development agreement for a semi-active, laser-guided 70-mm (2.75-inch) rocket designed to provide increased precision and lethality compared with conventional unguided rockets.
The laser-guided rocket will be designed to destroy a variety of targets ranging from tactical armored vehicles to high-speed naval craft and will also provide a very affordable precision weapon for launch platforms such as attack helicopters.

Under the cooperative development agreement, the laser guided rocket program represents a transfer of technology to the United Arab Emirates. Subject to approval of the respective companies' governments, Raytheon Missile Systems and Emirates Advanced Investments will produce the laser-guided rocket for national and international customers.
The agreement details a complete development and qualification program and provides for a follow-on proposal to supply a commercial off-the-shelf, laser-guided rocket for military customers in the United Arab Emirates, United States and other countries. Initially, the laser guided rocket will be qualified on a single United Arab Emirates platform, and later will be integrated onto additional platforms.

This program is also intended to benefit the U.S. Army, Navy and Marine Corps because they will be able to obtain a fully-qualified, laser-guided rocket that meets or exceeds all the guided 70-mm rocket requirements of the United States — without spending tens of millions of dollars in research, evaluation, and testing.

In addition to the cooperative development agreement, Emirates Advanced Investments and Raytheon have signed a collaborative agreement to explore similar, future joint programs.

Emirates Advanced Investments, located in Abu Dhabi, United Arab Emirates, was incorporated in 2005 to develop advanced technologies and high-quality services through strategic global partnerships with world-class manufacturing and service organizations.