Raytheon receives $350 million SM-3 Block IB contract

Specifications:

Name:

Raytheon receives $350 million SM-3 Block IB contract

Location:

TUCSON, Arizona and Huntsville, Alabama

Company:

Raytheon Company

Estimated Cost:

$350 million

Source:

raytheon.mediaroom.com

The Missile Defense Agency awarded Raytheon Company (NYSE: RTN) $350 million to increase its procurement of Standard Missile-3 Block IB missiles from 8 to 44.

The SM-3 is designed to destroy incoming short-, medium-, and intermediate-range ballistic missile threats by colliding with them in space, a concept sometimes described as "hitting a bullet with a bullet."

The work will be performed in Tucson, Ariz., and Huntsville, Ala., through September 2016.

Standard Missile-3 2013 Year-in-Review

Feb.     SM-3 Block IA destroys medium-range ballistic missile target using remote satellite cue
March   Raytheon's dual-band datalink tested with Thales radar
May      SM-3 Block IB destroys complex, separating short-range ballistic missile target
June     Raytheon delivers first SM-3 from its new Alabama missile integration facility
Sept     SM-3 Block IA destroys medium-range ballistic missile target during operational test
Sept     US Navy launches two SM-3 Block IBs against single ballistic missile target; target destroyed  
Oct.      SM-3 Block IB destroys medium range ballistic missile target; completes initial operational testing  
Oct.      SM-3 Block IIA completes critical design review; program moves from design to build