Raytheon awarded $43 million contract for SM-6 missile redesign

Investing.com -- Raytheon Co. (NYSE: RTX) has secured a $43.2 million contract modification from the U.S. Department of Defense for redesigning the Steering Control Section of the Standard Missile 6 (SM-6) All-Up Round.

The cost-plus-fixed-fee completion contract modification was awarded to the Tucson, Arizona-based company on September 4, according to a DoD announcement.

Work on the project will be performed in Tucson and is scheduled to be completed by November 2027.

The contract modification is tied to a previously awarded contract numbered N00024-25-C-5409. The Naval Sea Systems Command in Washington, D.C. is serving as the contracting activity.

Funding for the project comes from two sources: $36.7 million (86% of the total) from fiscal 2023 weapons procurement Navy funds, and $6.1 million (14%) from fiscal 2024 weapons procurement Navy funds. The DoD noted that the 2023 portion of the funding will expire at the end of the current fiscal year.

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