RTX's Raytheon Secures $6.3 Bln Multi-year Contract For SM-3 IB Interceptors
(RTTNews) - Aerospace and defense firm RTX Corp. (RTX) announced that its unit Raytheon has secured a five-year contract valued up to $6.3 billion for the production and sustainment of Standard Missile-3 Block IB or SM-3 IB interceptors. The contract, which holds two additional option years, provides long-term production stability for critical missile defense capability.
Production under the contract will be primarily completed at Raytheon facilities in Tucson, Arizona and Huntsville, Alabama.
Raytheon's SM-3 IB is a ship- and land-based missile defense interceptor designed to defeat short- to intermediate-range ballistic missiles during the midcourse phase of flight.
First used in combat in 2024, the interceptor is an integral part of the U.S. Navy's extended-range integrated air and missile defense together with SM-3 IIA and the rest of the Standard Missile family.
The contract is part of the recent landmark agreements between Raytheon and the U.S. Department of War. The deal supports urgent replenishment of missile defense inventory, and remains central to protecting U.S. forces, allies and critical infrastructure.
In early October, Raytheon secured up to $24.4 billion, five-year contract for Standard Missile-6 or SM-6 interceptors from the U.S. Department of War.
In the overnight activity on the NYSE, RTX shares were gaining around 0.41 percent, trading at $185.07, extending the 2.25% gain on Thursday's regular trading close.
