Would you like to receive local news notifications on your desktop?
Raytheon signs another $2B contract extension with Missile Defense Agency
An SM-3® Block IB interceptor launches from the USS Lake Erie during a Missile Defense Agency test designed to hit a complex, short-range ballistic missile target. (Photo: Missile Defense Agency)
Posted at 11:52 AM, Mar 31, 2020
and last updated 2020-03-31 14:52:55-04
Raytheon Co. has reached a $2.1 billion multiyear contract with the U.S. Missile Defense Agency to build SM-3 Block IB ballistic missile interceptors through 2023.
The SM-3 is the only ballistic missile interceptor that can be launched on land and at sea, Raytheon said.
The company already has delivered more than 400 rounds for the program. Full-rate production has been ongoing since 2017.
"This procurement deal is a win-win for government and industry," said Mitch Stevison, Raytheon Strategic and Naval Systems vice president, in a statement.
Read more from the Phoenix Business Journal.
Copyright 2020 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.