Raytheon Wins Contracts Worth $640 Million For Block IIA SM-3 Missiles, 120mm Precision Munitions

Raytheon has won a $543 million from the US Department of Defense to manufacture, assemble, test, and deliver 17 Standard Missile-3 Block IIA missiles.

Work expected to be completed by March 2020, the US DoD statement said.

In addition, Raytheon has also won a contract worth $98 million for the procurement of the projectile, 120 millimeter Precision Extended Range Munition (PERM).  

The 120mm PERM will provide an extended range, guided, precision-capable projectile with improved lethality for the Expeditionary Fire Support System.

The statement said the contract will have a maximum 60-month effective period, with five 12-month ordering periods. The first delivery order, in the amount of $13 million will be awarded simultaneously.

Work is expected to be completed by December 2020.