RTX awarded $344 million contract to modernize electronics unit for missile development program

Updates will allow for continued, rapid deliveries of Standard Missile variants to the U.S. and international fleets

TUCSON, Ariz., April 25, 2024 /PRNewswire/ -- Raytheon, an RTX (NYSE: RTX) business, has been awarded a $344 million contract for the development of two missile variants ? the SM-2 Block IIICU and SM-6 Block IU ? which will be based on a common guidance section, where the electronics and software that guide a missile to its target are housed.

The updated variants will share a newly designed guidance section, target detection device, independent flight termination system and electronics unit. This commonality will allow Raytheon to manufacture both missiles on a common production line, providing flexibility, scalability, and cost reductions.

"Upgrades under this contract will allow us to increase speed and efficiency in production of these weapon systems that are integral to the defense of the U.S. Navy and our allies," said Kim Ernzen, president of Naval Power, Raytheon. "It's also a very important step forward for our international customers, as this will be the first time that Standard Missile active radar technology will be fielded by the U.S.'s international allies."

The development program is largely funded by Foreign Military Sales. The first users of these updated missiles will be the U.S., Australia, Canada, Japan, and Korea.

Work on this contract is being conducted in Tucson, Arizona. While the common sub-sections will be developed for both missile configurations under this award, there is a follow-on contract expected later this year which will complete the missile level qualification events as well as At-Sea flight tests specific to the SM-2 Block IIICU configuration.

About Raytheon 
Raytheon, an RTX business, is a leading provider of defense solutions to help the U.S. government, our allies and partners defend their national sovereignty and ensure their security. For more than 100 years, Raytheon has developed new technologies and enhanced existing capabilities in integrated air and missile defense, smart weapons, missiles, advanced sensors and radars, interceptors, space-based systems, hypersonics and missile defense across land, air, sea and space.

About RTX 
RTX is the world's largest aerospace and defense company. With more than 185,000 global employees, we push the limits of technology and science to redefine how we connect and protect our world. Through industry-leading businesses ? Collins Aerospace, Pratt & Whitney, and Raytheon ? we are advancing aviation, engineering integrated defense systems for operational success, and developing next-generation technology solutions and manufacturing to help global customers address their most critical challenges. The company, with 2023 sales of $68.9 billion, is headquartered in Arlington, Virginia.

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SOURCE RTX