Raytheon awarded $149 million for Standard Missile-6s

US Navy wants to rapidly increase quantities

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Jun 02, 2015, 05:29 ET

TUCSON, Ariz., June 2, 2015 /PRNewswire/ -- The U.S. Navy awarded Raytheon Company (NYSE: RTN) an additional $149 million for 74 Standard Missile-6 all up rounds, spares, containers and services. When combined with the nearly $110 million long-lead material purchase made in March 2015, the total full-rate production contract for Fiscal Year 2015-2016 is $259 million. Future contract modifications include options which, if exercised, would bring the cumulative value of this contract to nearly $563 million.

USS John Paul Jones launches a Raytheon-made Standard Missile-6 during testing.

"The SM-6 has advanced capabilities and speed," said Mike Campisi, SM-6 senior program director. "Combatant commanders want their deployed ships armed with as many of these interceptors as possible, and we're ramping up production to meet that need."

SM-6 is a surface-to-air supersonic missile capable of successfully engaging manned and unmanned aerial vehicles and fixed- and rotary-wing aircraft. It also defends against land-attack and anti-ship cruise missiles in flight.

The SM-6 deployed for the first time in 2013, and Raytheon has delivered more than 160 missiles. The missile's final assembly takes place at Raytheon's state-of-the-art SM-6 and SM-3 all-up-round production facility at Redstone Arsenal in Huntsville, Ala.

About the Standard Missile-6
SM-6 delivers a proven over-the-horizon air defense capability by leveraging the time-tested advantages of the Standard Missile's airframe and propulsion.

The SM-6 uses both active and semiactive guidance modes and advanced fuzing techniques.
It incorporates the advanced signal processing and guidance control capabilities from Raytheon's Advanced Medium-Range Air-to-Air Missile.

About Raytheon
Raytheon Company, with 2014 sales of $23 billion and 61,000 employees worldwide, is a technology and innovation leader specializing in defense, civil government and cybersecurity markets throughout the world. With a history of innovation spanning 93 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as cybersecurity and a broad range of mission support services. Raytheon is headquartered in Waltham, Mass. For more about Raytheon, visit us at www.raytheon.com and follow us on Twitter @Raytheon.

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SOURCE Raytheon Company