MDA Orders Standard SM-3 Block IB Interceptors Worth $2.1 Billion

Released on Monday, March 30, 2020
United States of America
Standard SM-3 Block IB
MDA - Missile Defense Agency
US - United States
TUCSON, Ariz., March 30, 2020 /PRNewswire/ -- Raytheon Company (NYSE: RTN) will produce and deliver SM-3® Block IB interceptors under a $2.1 billion, multi-year U.S. Missile Defense Agency contract. It is the first multi-year contract for the SM-3 program, and covers fiscal years 2019�2023.

SM-3 is the only ballistic missile interceptor that can be launched on land and at sea. It is deployed worldwide and has achieved more than 30 exoatmospheric intercepts against ballistic missile targets.

"This procurement deal is a win-win for government and industry," said Dr. 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."

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.

Source: Raytheon, Missile Defense Agency sign landmark $2 billion Standard Missile-3 contract

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