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  • Thursday, April 25, 2024

Raytheon Wins $312 in Funding to Cover SM-3 Block IB Development and Delivery

Raytheon (NYSE: RTN) secured a $312 million manufacturing contract from the Missile Defense Agency to cover work on the Standard Missile-3 Block IB program. T

With the deal in place, the firm will complete development and delivery of the SM-3 Block IB program.

“We expect to deliver the first flight test rounds to the MDA this summer, ” said Frank Wyatt, vice president of Raytheon’s Air and Missile Defense Systems product line. “The SM-3 Block IB will provide an increased engagement capability against a wider variety of ballistic missile threats, giving the warfighter increased flexibility to protect U.S. and allied forces.”

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