Raytheon (NYSE: RTN) picked up a $42 million to fund the initial concept development and program planning for the Standard Missile-3 Block IIB, the MDA’s next-gen Aegis missile.
“Raytheon is the lowest-risk, lowest-cost, most-technically capable provider of missile defense solutions, ” said Frank Wyatt, vice president of Raytheon’s Air and Missile Defense Systems product line. “SM-3 has successfully defeated 18 incoming ballistic missile threats in realistic test scenarios; it’s in a class by itself. Spiral development of the Standard Missile program is the right choice for developing and delivering this capability for the country.”
