Raytheon Co. will produce and deliver SM-3 Block IB interceptors under a $2.1 billion, multiyear Missile Defense Agency contract.
“This procurement deal is a win-win for government and industry,” said Mitch Stevison, Raytheon Strategic and Naval Systems vice president. “Efficiencies gained from this contract will allow us to reduce costs, continue to improve the SM-3 and deliver an important capability to our military.”
This first multiyear contract for the SM-3 program covers fiscal years 2019 to 2023.
SM-3 is a ballistic missile interceptor that can be launched on land and at sea. It is deployed worldwide and the company reports it has achieved more than 30 intercepts against ballistic missile targets.
The Block IB variant achieved full-rate production in 2017. The company has delivered more than 400 SM-3 rounds over the lifetime of the program.