RTX Corporation (RTX)

[Jerry70]

$ RTN. Raytheon receives $109 million for SM-6, SM-2 parts.

TUCSON, Ariz., March 31, 2015 /PRNewswire/ -- The U.S. Navy awarded Raytheon Company (NYSE: RTN) $109,583,490 million to purchase the long-lead materials needed to meet Standard Missile-6 full-rate production requirements and Standard Missile-2 sustainment. This award was booked in the first quarter 2015.

SM-6 is a surface-to-air supersonic missile capable of successfully engaging manned and unmanned aerial vehicles and fixed- and rotary-wing aircraft. It also defends against land-attack and anti-ship cruise missiles in flight.

The SM-6 deployed for the first time in 2013, and Raytheon has delivered more than 160 missiles. The missile's final assembly takes place at Raytheon's state-of-the-art SM-6 and SM-3 all-up-round production facility at Redstone Arsenal in Huntsville, Ala.

SM-2 is the world's premier fleet-area air defense weapon, providing increased intercept range, high- and low-intercept capability, and performance against advanced and anti-ship missile threats. Its primary mission is fleet-area air defense and ship self-defense, but it has also demonstrated an extended-area air defense protection capability.

About the Standard Missile-6
SM-6 delivers a proven over-the-horizon air defense capability by leveraging the time-tested advantages of the Standard Missile's airframe and propulsion.

The SM-6 uses both active and semiactive guidance modes and advanced fuzing techniques.
It incorporates the advanced signal processing and guidance control capabilities from Raytheon's Advanced Medium-Range Air-to-Air Missile.
About the Standard Missile-2
SM-2s are the world's premier fleet-area air defense weapons. The missiles are also capable of providing extended-area air defense.

SM-2's international customers include: Australia, Canada, Germany, Japan, Korea, the Netherlands, Spain and Taiwan.
SM-2 has been integrated with both Aegis and non-Aegis combat weapon systems.
The missile can be launched from the MK-41, MK-13 and MK-26 launchers.
SM-2 has an extensive flight test history of more than 2,500 successful flight tests
More than 5,000 SM-2s have been delivered to the US and allied customers.