Raytheon received $523 Million Standard Missile-3 Production and Delivery Contract from U.S. Missile Defense Agency

Specifications:

Name:

Raytheon received $523 Million Standard Missile-3 Production and Delivery Contract from U.S. Missile Defense Agency

Location:

USA

Company:

Raytheon Company

Estimated Cost:

$523 Million

Source:

raytheon.mediaroom.com

Introduction:

The U.S. Missile Defense Agency exercised a $523 million contract option with Raytheon Company to produce, test and deliver 47 Standard Missile-3 (SM-3) Block IB interceptors for operational testing and deployment.

Features:

SM-3's sophisticated capability to destroy enemy ballistic missiles in space, and its flexibility to deploy from land or from sea make it invaluable as the centerpiece of the President's Phased Adaptive Approach for missile defense in Europe. "Standard Missile-3 plays a critical role in the missile defense of the U.S. and its allies," said Dr. Taylor W. Lawrence, Raytheon Missile Systems president.

The guided missiles are used by the U.S. Navy to provide regional defense against short-to-intermediate-range ballistic missile threats. Production under this contract will be completed at Raytheon's world-class Space Factory in Tucson, Ariz., and integration will take place at Raytheon's state-of-the-art integration facility in Huntsville, Ala.