Raytheon’s (NYSE RTN) contract for development and integration work for the U.S. Missile Defense Agency is now worth $1, 508, 363, 453, the Defense Department announced Wednesday.
In separate releases, the company and the Pentagon said Raytheon won a new $925, 000, 138 award to continue work on the ship-based Standard Missile-3.
According to the Pentagon, the MDA increased the total contract value nearly 106 percent from $583, 363, 315 with a five-year performance period.
A separate contract for design and engineering work on SM-3 Block IIA is worth an estimated $809 million with work scheduled through 2015.
Raytheon will review designs and support test flights of the missile, a co-development effort between the U.S. and Japan that is scheduled for deployment in 2018.
This is the third variant of SM-3 and the company has delivered more than 130 SM-3 variants to the U.S. and Japanese navies, recording 21 intercepts.
U.S. and Japanese navies use SM-3 Block IA to defend against incoming short- to intermediate-range ballistic missiles, the company said.
The company is designing Block IIA to have a 21-inch second and third stage rocket motor.
