Hello, Guest!
  • Tuesday, April 23, 2024

Raytheon’s Navy SM-6 Contract Reaches $573M With Contract Modification Award


Raytheon logoRaytheon (NYSE: RTN) has received a potential three-year, $270.5 million contract modification to bring the total value of its Standard Missile-6 contract with the U.S. Navy to $573.2 million.

The Naval Sea Systems Command awarded the contract modification to exercise the fiscal 2016 option under the previously awarded contract, the Defense Department said Friday.

SM-6 is designed to be deployed on the service branch’s destroyers and cruisers and works to defend against unmanned aircraft systems, terminal ballistic missiles and fixed- and rotary-wing aircraft.

Contract work will occur in England and in Arkansas, Arizona, Massachusetts, Ohio, California, Texas, Alabama, Connecticut, Georgia and Pennsylvania through April 2019.

The service branch will obligate $270.5 million from fiscal 2016 weapons procurement funds at the time of award, according to DoD.

Raytheon was also awarded in June 2015 a potential $149 million contract modification to produce 74 SM-6 weapons and spares for the Navy.

Video of the Day

Related Articles

Senate Confirms Mara Karlin as DOD Strategy Lead Executive Moves

Senate Confirms Mara Karlin as DOD Strategy Lead

Mara Elizabeth Karlin, principal deputy assistant secretary for international security affairs at the Defense Department, was confirmed by the Senate to serve as DOD’s assistant secretary for strategy, plans and capabilties. Senators approved the nomination by voice vote Monday, following a series of congressional events that took place since the White House announced President Joe

Express Scripts to Manage TRICARE Pharmacy Benefits Under $4.3B DHA Contract News

Express Scripts to Manage TRICARE Pharmacy Benefits Under $4.3B DHA Contract

Express Scripts has secured a potential multi-year $4.3 billion contract to help the Defense Health Agency manage pharmacy benefit-related activities across all 50 states; Washington, D.C; Guam; Puerto Rico; and the Virgin Islands. The company will provide management services in support of the TRICARE Pharmacy Benefit Program, which delivers prescription drugs to beneficiaries through mail

DOD Secretary Lloyd Austin Inks Implementation Plan for Electromagnetic Spectrum Strategy News

DOD Secretary Lloyd Austin Inks Implementation Plan for Electromagnetic Spectrum Strategy

Defense Secretary Lloyd Austin has signed a plan designed to guide the military’s implementation activities aimed at ensuring U.S. electromagnetic spectrum advantage and providing warfighters with “freedom of action” in the EMS. The Department of Defense said Thursday its operations in air, land, maritime, space and cyberspace domains rely on EMS and the 2020 Electromagnetic