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Raytheon gets $350 mln contract for SM-3 missiles

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TUCSON, ARIZONA (BNS): The US Missile Defence Agency (MDA) has awarded a contract worth $350 million to Raytheon to increase its procurement of the Standard Missile-3 Block IB variants from 8 to 44.

The next-generation SM-3 Block IB variant is on track for deployment by 2015.

Designed to destroy incoming short-, medium-, and intermediate-range ballistic missile threats by colliding with them in space, a concept sometimes described as "hitting a bullet with a bullet," the missile is used by the US Navy.

The missile completed its initial operational testing in October 2013 by successfully destroying a medium range ballistic missile target.

The missile will be deployed in both afloat and ashore weapons systems.

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