Missile Defense Agency Awards Raytheon $312 Million for New SM-3 Block IB
TUCSON, Ariz., March 31, 2011 /PRNewswire/ -- The Missile Defense Agency awarded Raytheon Company (NYSE: RTN) a $312 million manufacturing contract for the Standard Missile-3 Block IB program. The contract provides the funding necessary to complete the development phase of the SM-3 Block IB program and deliver the rounds to the MDA.
"We expect to deliver the first flight test rounds to the MDA this summer," said Frank Wyatt, vice president of Raytheon's Air and Missile Defense Systems product line. "The SM-3 Block IB will provide an increased engagement capability against a wider variety of ballistic missile threats, giving the warfighter increased flexibility to protect U.S. and allied forces."
Raytheon's next-generation SM-3 Block IB maintains the reliability of the Block IA variant while incorporating an advanced two-color infrared seeker, an advanced signal processor, and a new throttleable divert and attitude control system. SM-3 Block IB will be deployed in both sea-based and land-based modes as part of phase two of the current administration's Phased Adaptive Approach for missile defense.
Raytheon is developing SM-3 as part of the MDA's Aegis Ballistic Missile Defense System, and more than 130 SM-3s have been delivered to date. The missiles are deployed with both U.S. and Japanese navies to defend against short- to intermediate-range ballistic missile threats in the ascent and midcourse phases of flight.
Raytheon Company, with 2010 sales of $25 billion, is a technology and innovation leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 89 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as a broad range of mission support services. With headquarters in Waltham, Mass., Raytheon employs 72,000 people worldwide.
Note to Editors:
This contract award was originally announced by the Department of Defense March 29, 2011.
SOURCE Raytheon Company
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