Raytheon wins $42 million for Standard Missile-3 Interceptor concept development, program planning

TUCSON, Ariz., 11 April 2011. Raytheon Company won $42 million for initial concept development and program planning for the Standard Missile-3 Block IIB, the Missile Defense Agency's next-generation Aegis missile. Raytheon has delivered more than 130 SM-3s ahead of schedule and under cost as part of its contract with the Missile Defense Agency.

"SM-3 has defeated 18 incoming ballistic missile threats in realistic test scenarios; it's in a class by itself. Spiral development of the Standard Missile program is the right choice for developing and delivering this capability for the country," says Frank Wyatt, vice president of Raytheon's Air and Missile Defense Systems product line.

Raytheon's Standard Missile-3 family is a core element of the administration's Phased Adaptive Approach for missile defense, says a company representative. Raytheon engineers have decades of experience in radars, airborne and space-based sensors, interceptors, and kill vehicles.