Raytheon Bags $2.1bn Missile Deal Boost

RTX firm Raytheon has been awarded a $2.1 billion contract extension to its Standard Missile-3 (SM-3) programme.

As per a recent Pentagon press statement, the defence firm has netted a $2.13 billion deal stretching to the end of October 2029; it takes the cumulative programme total to $3.33 billion.

Under the terms of the agreement the company will “provide the management, material, and services associated with the sustaining engineering and product support services of the Standard Missile-3 Block missile variants for the U.S. and Foreign Military Sales partners.” 

Works will be carried out at Raytheon’s Arizona base in Tucson and at its facility in Huntsville, Alabama; the Missile Defense Agency (MDA) in Huntsville will be overseeing the programme.  

The U.S. Department of Defense statement noted: “The long-term nature of this agreement highlights the strategic importance of the SM-3 program in U.S. and allied missile defense capabilities.

“The SM-3 is a ship-based missile, currently used by the U.S. Navy to intercept short to intermediate-range ballistic missiles and dismantle incoming ballistic missile threats. The missile is sometimes described as a ‘bullet that hits a bullet.’”

• You can read the full details on the U.S. DoD website