Raytheon‘s (NYSE: RTN) missiles systems business has received a $395.5M contract modification to procure materials and spares needed for fiscal 2017 through 2018 production of the Standard Missile-6.
The award holds options that may raise the previously awarded contract’s maximum potential value to $579.7M, the Defense Department said Friday.
The company will perform work in Arkansas, Arizona, Massachusetts, Ohio, California, Alabama, Texas, the U.K. and other locations through September 2022.
The Navy will obligate $484.4M in weapons procurement funds allotted for fiscal 2017 through 2018.
The SM-6 is usable in active and semi-active radar modes, and incorporates advanced fuzing techniques.
The service branch intends to armÂ Aegis-equipped cruisers and destroyers with new SM-6 warheads that will feature an anti-surface function.