"We expect to deliver the first flight test rounds to the MDA this summer," said Frank Wyatt, vice president of Raytheon's Air and Missile Defense Systems product line.
"The SM-3 Block IB will provide an increased engagement capability against a wider variety of ballistic missile threats, giving the warfighter increased flexibility to protect U.S. and allied forces."
The award from the MDA is $312 million.
Raytheon is developing SM-3 as part of the MDA's Aegis Ballistic Missile Defense System. More than 130 SM-3s have been delivered. The missiles are deployed by the U.S. and Japanese navies to defend against short- to intermediate-range ballistic missile threats in the ascent and midcourse phases of flight.
SM-3 Block IB maintains the reliability of the Block IA variant while incorporating an advanced two-color, infrared seeker, an advanced signal processor and a new throttleable divert and attitude control system," the company said.
The SM-3 Block IB will be deployed in both sea and land modes as part of phase two of the Phased Adaptive Approach for missile defense.
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