Missile Defense Agency awards Raytheon missile contract

US defence contractor Raytheon has been awarded $42m (£25.7m) for the initial concept development and programme planning for the Standard Missile-3 Block IIB, which is the Missile Defense Agency’s next-generation Aegis missile.

Raytheon’s Standard Missile-3 range is a core element of the administration’s Phased Adaptive Approach for missile defence, and as part of Raytheon’s contract with the Missile Defense Agency, the company has delivered more than 130 SM-3s ahead of schedule.