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Paveway is a series of laser-guided bombs (LGBs).
Pave or PAVE is sometimes used as an acronym for precision avionics vectoring equipment; literally, electronics for controlling the speed and direction of aircraft. Laser guidance is a form of Pave.
Pave, paired with other words, is the first name for various laser systems that designate targets for LGBs, for example Pave Penny, Pave Spike, Pave Tack and Pave Knife, and for specialized military aircraft, such as AC-130U Pave Spectre, MH-53 Pave Low, and HH-60 Pave Hawk.