WASHINGTON, December 2 (Sputnik) — General Dynamics, a top US defense contractor, has renewed a contract with the US military to produce the Hydra-70 air-to-surface missiles used on helicopters and some aircraft, the company announced Monday.
"The Hydra 70 rocket is a combat-proven, cost-effective weapon that enhances the survivability and mission success of the warfighter," Dan Paul, vice president and general manager for precision systems, General Dynamics Ordnance and Tactical Systems, said in a statement.
General Dynamics has produced nearly five million Hydra-70 rockets for all branches of the US military since 1996. The rocket is mounted on helicopters such as the Apache and Cobra.
"The award includes five potential options through 2018, with work expected to be complete by 2020," the statement reads.
General Dynamics is one of the world's top 10 defense contractors. Its stock is up nearly 50 percent this year.