Raytheon awarded a contract with the U.S. Navy for SM-6 worths $ 1 billion

Raytheon Missile Systems, Tucson, Arizona, is awarded a $1,030,728,427 fixed-price-incentive and cost-plus-fixed fee multi-year contract by US Navy for Standard Missile-6 (SM-6) full rate production requirements, spares, and round design agent. This contract provides for the multi-year procurement of fiscal 2019-2023 Standard Missile-6 to include all up rounds, flight test rounds, spares and round design agent.

All-up rounds are packages that include the missile, the missile booster, and the container that protects the missile during transport and storage. The all-up rounds also act as launch tubes.

The SM-6 is an extended range anti-air warfare missile. Fired from ships, SM-6 provides over-the-horizon capabilities against fixed- and rotary-wing aircraft, unmanned aerial vehicles and cruise missiles.