Raytheon awarded $6.3 billion multi-year contract for SM-3 IB interceptors

Automatically curated summary from Naval News.

According to a press release reported by Naval News, Raytheon has been awarded a multi-year contract valued at up to $6.3 billion for the production and sustainment of Standard Missile-3 Block IB (SM-3 IB) interceptors. The five-year agreement, which includes two option years, aims to replenish missile defense inventories following recent combat use. Raytheon President Phil Jasper emphasized increasing production capabilities, with manufacturing primarily set for Tucson, Arizona, and Huntsville, Alabama.

Context and limitations

The report relies on a corporate press release, and the full $6.3 billion valuation depends on the execution of optional contract years.