Raytheon is developing a new medium-range, air-to-air missile called Peregrine that will have reduced size and cost, the company announced in a press release yesterday.
"Developed to strengthen the capabilities of current fighter aircraft, the new, smaller Peregrine missile is faster and more maneuverable than legacy medium-range, air-to-air missiles, and doubles the weapons loadout on a variety of fighter platforms," the release states.
The weapon will also have a miniaturized guidance system that can function in any weather condition. Raytheon says its engineering approach will allow for lower costs than other air-to-air missiles, too.
Peregrine "benefits from military off-the-shelf components, additive manufacturing processes and readily available materials to offer an affordable solution for countering current and emerging airborne threats," according to the press release.
The statement did not suggest any potential customers for the weapon.