Raytheon Wins $156 Million SM-3 Block IB Missile Contract
Raytheon has won a $156 million contract to procure 8 Standard Missile-3 Block IB missile material and all up round build up.
The SM-3IB is scheduled to begin deployment in 2015, but this new contract modification will have Raytheon continuing to deliver missiles to MDA through September 2016.
The SM-3IB is a new version of Raytheon's venerable Standard surface-to-air missile, which aims to enhance the original Standard Missile's effectiveness with enhanced, two-color infrared target seeking, and the ability to use short bursts of precision propulsion to steer the missile toward incoming targets.
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