Raytheon wins up to $6.3B contract for SM-3 IB interceptors

RTX's Raytheon has secured a multiyear contract worth up to $6.3 billion to produce and sustain Standard Missile-3 Block IB interceptors. The October 8 agreement covers five years with two option years, with production in Tucson and Huntsville.

• SM-3 IB contract valued at up to $6.3 billion over five years
• Interceptor destroys ballistic missiles outside Earth's atmosphere
• Production will be based in Tucson and Huntsville
• SM-3 family first used in combat in 2024