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Raytheon, U.S. Missile Defense Agency Sign $2 Bln Standard Missile-3 Contract

Raytheon Co. (RTN) said it will produce and deliver SM-3 Block IB interceptors under a $2.1 billion, multi-year U.S. Missile Defense Agency contract. It is the first multi-year contract for the SM-3 program, and covers fiscal years 2019-2023.

SM-3 is the ballistic missile interceptor that can be launched on land and at sea. It is deployed worldwide and has achieved more than 30 exoatmospheric intercepts against ballistic missile targets.

The company noted that the Block IB variant achieved full-rate production in 2017. The company has delivered more than 400 SM-3 rounds over the lifetime of the program.

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