Navy Awards Raytheon $1B Standard Missile-6 Production Contract

Jeff Brody

Raytheon (NYSE: RTN) has secured a potential $1.07B contract from the U.S. Navy to provide Standard Missile-6 all-up rounds designed to engage targets on the sea or in the air.

The sole-source contract, which contains a $1.03B initial value, is designed to address the service branch's SM-6 full-rate production requirements for fiscal 2019 through fiscal 2023, the Department of Defense said Friday.

DoD added the company will provide a round design agent, spares and flight test rounds to the Navy, and the department expects work to be finished by October 2026.

Naval Sea Systems Command is obligating $269.7M at the time of award.

The service branch's destroyer and cruiser ships use SM-6 to perform anti-air, anti-surface and missile defense strike missions.

Check Also

Vigor

Vigor Industrial Subsidiary to Modernize Navy Destroyer Ship Under Potential $156M Contract

Vigor Industrial's marine subsidiary has secured a potential $155.6M firm-fixed-price contract to help the U.S. Navy modernize and maintain the USS McCampbell guided missile destroyer. The company will update the ship's mechanical and electrical systems, hull and communications, digital video surveillance and warfighting equipment as part of a depot maintenance availability, the Department of Defense said Monday.

Parsons

Parsons Gets $178M Intell Community Security Analysis IDIQ; Robert Miller Quoted

Parsons (NYSE: PSN) has secured a potential five-year, $178M contract to help the U.S. intelligence community analyze measures for securing physical and technical assets.