Raytheon Receives $230 M Contract for SM-3
The Missile Defense Agency awarded Raytheon Company (NYSE: RTN) a $230 million contract for 14 Standard Missile-3 Block IA missiles and five SM-3 Block IB missiles. The SM-3 Block IA missiles will bolster the nation's inventory that is deployed around the world today aboard U.S and Japanese Navy ships.
Designed to destroy short- to intermediate-range ballistic missile threats in space, Raytheon's SM-3 Block IB includes an enhanced two-color infrared seeker for better target discrimination. This improved SM-3, which was recently successful in two back-to-back flight tests in May and June 2012, also has a Throttleable Divert and Attitude Control System that allows the kinetic warhead to propel itself toward incoming threats using short bursts of precision propulsion.
The Global Missiles and Missile Defense Systems Market 2011-2021 - Country Analysis: Market Profile
Raytheon has delivered more than 135 SM-3 missiles to the U.S. and Japanese navies on time and on budget.
Source : Raytheon Corporation (NYSE: RTN)