TUCSON, Ariz., March 30, 2020 /PRNewswire/ -- Raytheon
Company (NYSE: RTN) 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 only 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.
"This procurement deal is a win-win for government and
industry," said Dr. Mitch Stevison,
Raytheon Strategic and Naval Systems vice president. "Efficiencies
gained from this contract will allow us to reduce costs, continue
to improve the SM-3 and deliver an important capability to our
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.
Raytheon Company, with 2019 sales of $29
billion and 70,000 employees, is a technology and innovation
leader specializing in defense, civil government and cybersecurity
solutions. With a history of innovation spanning 98 years, Raytheon
provides state-of-the-art electronics, mission systems integration,
C5I® products and services, sensing, effects, and
mission support for customers in more than 80 countries. Raytheon
is headquartered in Waltham,
Massachusetts. Follow us on Twitter.
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SOURCE Raytheon Company