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Raytheon MDA SM-3 Contract Value Now $1.9B

U.S. Navy photo

Raytheon‘s (NYSE: RTN) contract to provide Standard Missile-3 missiles to the U.S. Missile Defense Agency is now worth $1, 930, 294, 187, the Defense Department announced Thursday.

MDA awarded the company a $230, 374, 920 contract action for 14 block IA missiles and five block IB missiles, using defense wide procurement funds for fiscal year 2012.

Work under the sole-source cost-plus-incentive-fee award will occur in Tucson, Ariz. and the Pentagon expects the work to finish by Sept. 30, 2014.

The company holds another contract, worth nearly $1.5 billion as of late July, for development and integration work on a ship-based version of SM-3.

SM-3 is a partnership between the U.S. and Japan and is scheduled to deploy in 2018.

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