Raytheon Wins $123M to Continue Developing Standard Missile-3 Programs

Raytheon Co. (NYSE: RTN) has won a $122.5 million U.S. Missile Defense Agency contract to continue developing different standard missile-3 programs.

The company said it will provide work on its first and second variants of the missile family.

The company will provide support for the variants’ design, production engineering, surveillance and flight test. It will also help the transition to missile production.

The company’s missile systems business recently won a $394 million MDA contract modification to continue providing design and engineering support for the standard missile-3.

That award raised that total contract’s value to just under $689 million.

Ratheon said the second variant, or IB block, has a kinetic warhead seeker, attitude control system and throttable divert and signal processing. It hopes to deploy the second variant in 2015.

Raytheon said the standard missile-3 is designed to defend against short-to-intermediate-range ballistic missile threats and midcourt phrases of flight.

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