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TUCSON, July 6 (UPI) -- Raytheon was given contracts by the U.S. Navy worth $386 million for low-rate initial production of Standard Missile-6 systems, the company said Tuesday.
The contracts cover a 3-year period, the company said, and include production of the missiles, spare parts and system and engineering efforts.
The first missiles are scheduled for delivery to the Navy early next year.
"Low-rate initial production begins our process of delivering this integral weapon system to the warfighter," Frank Wyatt, vice president of Raytheon's Air and Missile Defense Systems product line, said in a news release.
"Standard Missile-6 remains on schedule and we brought in the first three years of production well under the Navy's budget."
Wyatt said the missile is undergoing development testing and will have operational testing next year. Initial operational capability is predicted for March.
The Standard Missile-6 is an extended range, anti-air warfare weapon for defense against fixed-wing and rotary aircraft and anti-ship cruise missiles.
The company says it leverages the Navy's AEGIS and airborne early warning systems or an over-the-horizon defensive capability.
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