Javelin, a joint venture (JV) by Raytheon Company RTN and Lockheed Martin Corp. LMT, has won a multi-year contract from the U.S. Army for the GEU hybrid regulators under a foreign military sales (“FMS”) program. The contract is worth $181.3 million.The FMS covers Estonia and Czech Republic. Contracting activity is Army Contracting Command, Redstone Arsenal, AL.Work is scheduled to be complete by Aug 31, 2018 and will be performed in Tucson, AZ. The contract will use fiscal 2016 other procurement funds.Javelin is the world's first one-man-portable, fire-and-forget, multipurpose missile system. This compact, lightweight missile was designed for one-soldier operations in all situations. It enhances direct-fire capability against armored vehicles, buildings and field fortifications. Armed forces all across the world have adopted Javelin. In fact, it is currently in service with the U.S. Army and Marine Corps as well as 15 allied militaries.Raytheon and Lockheed Martin have been producing the Javelin handheld missile system through the JV since as early as the mid-1990s.Raytheon is one of the best-positioned large-cap defense players due to its non-platform-centric focus. The company is particularly focused on its overseas business. FMS contracts are a vital growth driver for Raytheon. International sales increased 9% in 2015 and 16% in the fourth quarter. While international bookings comprised 34% of total bookings in 2015, international backlog was at 43% of the total, compared with 40% at 2014 end.On the other hand, Lockheed Martin is the largest U.S. defense contractor, with a platform-centric focus that guarantees a steady inflow of follow-on orders from its leveraged presence in the U.S. Army, Air Force, Navy and IT programs. The company generated 21% of its total sales from international customers in 2015, up from 19.4% in 2014, including FMS. The company has reiterated its plan to increase the international mix to 25% of total sales in the upcoming years.Zacks Rank & Key Picks in the SectorBoth Lockheed Martin and Raytheon currently carry a Zacks Rank #3 (Hold). A couple of better-ranked stocks in the aerospace and defense industry are HEICO Corporation HEI and Rockwell Collins COL, each sporting a Zacks Rank #1 (Strong Buy).Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report LOCKHEED MARTIN (LMT): Free Stock Analysis Report ROCKWELL COLLIN (COL): Free Stock Analysis Report HEICO CORP (HEI): Free Stock Analysis Report RAYTHEON CO (RTN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research