Raytheon and the US Missile Defense Agency (MDA) have signed a contract valued at $2.1 billion (€1.9 billion) to cover production and delivery of Standard Missile-3 (SM-3) Block 1B interceptors, the company announced on 30 March.
The multi-year contract – the first of its kind for the SM-3 programme – 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 over 30 exoatmospheric intercepts against ballistic missile targets. The company has delivered more than 400 SM-3 rounds over the lifetime of the programme.
"This procurement deal is a win-win for government and industry," commented 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 military."