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Tucson-based missile maker Raytheon’s string of massive new munitions contracts has pushed into record territory with a third deal in the past two months exceeding $20 billion.
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The latest deal, announced Oct. 1, is worth up to $24.4 billion, and calls for more Standard Missile-6 (SM-6) interceptors — a critical munition used in offensive strikes and defense missions, Raytheon said. The U.S. Navy contract is for five years, with two option years available.
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This deal surpasses Raytheon’s previous record contract worth $22.9 billion announced in August for accelerated production of Tomahawk cruise missiles. It also goes beyond a $20.7 billion contract announced earlier this week for nearly doubled output of the of widely used Advanced Medium Range Air-to-Air Missiles, or AMRAAM, weapon.
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Read more of this story from the Business Journal.