Raytheon wins $165 million contract for missile by U.S.

The U.S. Navy has awarded Raytheon a $165M contract to pay for six months’ work on the SM-3 Block IIA development program. (US Navy photo) Raytheon Missile Systems Co., Tucson, Ariz., is being awarded a cost-plus-award-fee with technical/schedule performance incentive contract with a total value of $165,288,359 under contract. Under this contract, Raytheon will perform Preliminary Design Review efforts including, but not limited to, engineering services and material for systems engineering, design and development support, and initial hardware fabrication for the Standard Missile-3 Block IIA missile. The work will be performed in Tucson, Ariz., and is expected to be completed by March 31, 2011. Research, development, test and evaluation funds for fiscal 2010 will be used to for this effort with initial incremental funding in the amount of $40,000,000.