TUCSON, Ariz., Dec. 26, 2011 /PRNewswire/ -- Raytheon Company (NYSE: RTN) received a $122.5 million contract from the U.S. Missile Defense Agency for continued development of Standard Missile-3 Block IA and IB programs. Under this modification, Raytheon will provide SM-3 design and engineering, in service engineering support, production engineering, surveillance and flight test support, and transition to production.
The contract was announced Dec. 22 by the Department of Defense.
- Raytheon's SM-3s are designed to defend against short- to intermediate-range ballistic missile threats in the ascent and midcourse phases of flight.
- SM-3 Block IA is Raytheon's first variant in the SM-3 family; it is deployed today in support of the first phase of the administration's Phased Adaptive Approach (PAA) for ballistic missile defense.
- Raytheon has delivered more than 130 SM-3 Block IAs ahead of schedule and under cost.
- The SM-3 Block IB is Raytheon's second variant in the SM-3 family.
- The SM-3 Block IB has an enhanced kinetic warhead seeker, throttleable divert and attitude control system, and advanced signal processing.
- Raytheon's SM-3 Block IB is the cornerstone of phase two of the administration's PAA and is on track for a 2015 deployment at sea and ashore.
Raytheon Company, with 2010 sales of $25 billion, is a technology and innovation leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 89 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as a broad range of mission support services. With headquarters in Waltham, Mass., Raytheon employs 72,000 people worldwide. For more about Raytheon, visit us at www.raytheon.com and follow us on Twitter at @raytheon.
SOURCE Raytheon Company