Tucson-based missile maker Raytheon’s string of massive new munitions contracts has pushed into record territory with a third deal in the past two months exceeding $20 billion.
The latest deal, announced Oct. 1, is worth up to $24.4 billion, and calls for more Standard Missile-6 (SM-6) interceptors — a critical munition used in offensive strikes and defense missions, Raytheon said. The U.S. Navy contract is for five years, with two option years available.
This deal surpasses Raytheon's previous record contract worth $22.9 billion announced in August for accelerated production of Tomahawk cruise missiles. It also goes beyond a $20.7 billion contract announced earlier this week for nearly doubled output of the of widely used Advanced Medium Range Air-to-Air Missiles, or AMRAAM, weapon.
Read more of this story from the Business Journal.
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