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  • Friday, November 22, 2024

Raytheon Unit Secures $867M MDA Contract for SM-3 Block IIA Interceptors

Raytheon Technologies‘ (NYSE: RTX) missiles and defense business has secured an $866.6 million contract from the Missile Defense Agency to manufacture updated ship-based ballistic missile interceptors for the U.S. government and the Japanese defense ministry.

The sole-source award covers the production of Standard Missile-3 Block IIA systems, which are designed to reach short- to intermediate-range ballistic missile targets, the Department of Defense said Tuesday.

Work will be performed at Raytheon’s facility in Tucson, Arizona, and Huntsville, Alabama, through the end of calendar year 2026.

MDA will obligate $634.5 million in fiscal 2021 and 2022 defense-wide procurement funds at the time of award, while Japan will allocate $195.7 million at the time of option exercise.

The State Department approved in 2018 the request of Japan to buy SM-3 Block IIA missiles and related equipment under a potential $133.3 million foreign military sales agreement.

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