Raytheon to Build SM-3 Block IB Interceptors Under $2.1 Billion Agreement
Raytheon Co., one of the globe’s biggest protection contractors, declared Monday that it’d build and deliver SM-3 Block IB interceptors under a $2.1 billion, multi-year U.S. Missile Defense Agency agreement. It’s the first multi-year contract for the SM-3 program and covers fiscal years 2019–2023.
SM-3 is the one ballistic missile interceptor that can be fired on land and at sea. It is deployed worldwide and has realized over 30 exoatmospheric intercepts against ballistic missile targets.
“This procurement contract is a win-win situation for government and industry,” stated Dr. Mitch Stevison, Raytheon Strategic and Naval Systems VP. “Efficiencies gained from this agreement will allow us to cut down prices, continue to enhance the SM-3, and deliver a vital capability to our army.”
The SM-3 Block IB interceptor has an enhanced two-color infrared seeker and upgraded steering and propulsion functionality that makes use of short bursts of precision propulsion to direct the missile toward incoming targets. It turned operational in 2014, deploying for the first time on U.S. Navy ships globally.
The Block IB variant achieved full-rate production back in 2017. The corporate has delivered over 400 SM-3 rounds over the lifetime of the program.