Home / Contract Awards / Raytheon SM-3 Development Contract Now $1.5B

Raytheon SM-3 Development Contract Now $1.5B

U.S. Navy photo

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.

Check Also

Kevin McDonnell to Join AeroVironment as SVP, CFO

Kevin McDonnell, former senior vice president and chief financial officer of JAMS, has been appointed to the same positions at unmanned aircraft system maker AeroVironment (Nasdaq: AVAV). His appointment is effective Feb. 10 and he will succeed Brian Shackley, who has held the CFO role at AeroVironment on an acting basis since October, the company said Thursday.

Army Engineers Select Brayman for $320M Bluestone Dam Rehabilitation Contract

Brayman Construction has landed a potential nine-year, $319.6M contract from the U.S. Army Corps of Engineers to renovate recreational areas and equipment at the Bluestone Dam's stilling basin in West Virginia.