RTX's Raytheon wins up to $6.3 billion US missile contract
RTX•Raytheon won a multi-year US military contract worth up to $6.3 billion to produce and sustain Standard Missile-3 Block IB interceptors.
1. Contract details
The Standard Missile-3 Block IB is a ballistic missile-defense interceptor used by the US Navy against short- and intermediate-range ballistic missile threats. Work will be performed primarily at Raytheon's facilities in Tucson, Arizona, and Huntsville, Alabama.
2. Production context
The Pentagon is seeking to replenish stockpiles depleted by conflicts in the Middle East and meet demand for air and missile defense systems. Raytheon said it has invested in expanding production capacity for the Standard Missile family.
3. Other missile awards
The contract follows Raytheon's award of up to $24.4 billion to produce Standard Missile-6 interceptors in October and Lockheed Martin's $58.6 billion Patriot missile contract in July. Industry executives have warned that a lack of congressional funding could delay investment in facilities and supply chains.
