Pentagon Awards Raytheon $6.3 Billion Missile Interceptor Contract
The award comes as the Department of War looks to meet the growing demand for air and missile defense systems and replenish stockpiles.
The Department of War has awarded Raytheon a contract potentially worth up to $6.3 billion for the production of Standard Missile-3 Block IB interceptors. This five-year deal, with an option for a two-year extension, aims to increase weapons production and replenish military stockpiles. The SM-3 Block IB is utilized by the U.S. Navy to counter short- and intermediate-range ballistic missile threats.
- Department of War awards Raytheon a multi-year contract valued up to $6.3 billion.
- Contract is for the production of Standard Missile-3 Block IB (SM-3 Blk IB) ballistic missile interceptors.
- The agreement spans five years with a possible two-year extension.
- The SM-3 Blk IB is used by the U.S. Navy against short- and intermediate-range ballistic missile threats.
- This initiative aims to boost weapons production and replenish Pentagon stockpiles.
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