Raytheon receives $109 million for SM-6, SM-2 parts
TUCSON, Ariz., March 31, 2015 /PRNewswire/ — The U.S. Navy awarded Raytheon Company (NYSE: RTN) $109,583,490 million to purchase the long-lead materials needed to meet Standard Missile-6 full-rate production requirements and Standard Missile-2 sustainment. This award was booked in the first quarter 2015.
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.
SM-2 is the world’s premier fleet-area air defense weapon, providing increased intercept range, high- and low-intercept capability, and performance against advanced and anti-ship missile threats. Its primary mission is fleet-area air defense and ship self-defense, but it has also demonstrated an extended-area air defense protection capability.