TOW EagleFire launcher is designed to fire both wire-guided and wireless radio frequency missiles. Raytheon officials say the EagleFire is a followup to the TOW 2 launcher, and features improved capabilities at a lower cost. These improvements include integrated day-and-night sight, range-finding capabilities, ergonomic handgrips, and an extensive built-in test capability.

TOW EagleFire's lithium-ion power source allows for a nine-hour silent watch capability, when a vehicle's engine is off, along with built-in AC and on-vehicle charging capability.