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Event Brief

Pentagon, Raytheon agree to SM-3 IB contract

The Pentagon and Raytheon inked a multi-year contract worth up to $6.3 billion for SM-3 Block IB missiles. The contract follows a framework agreement reached months earlier to boost production of the air-defense munition.
WHO: The Pentagon and Raytheon
WHAT: Inked a multi-year contract worth up to $6.3 billion for SM-3 IB missiles.
WHEN: Oct 8, 2026 at 6:07 PM ET
WHERE: USA
WHY: The earlier framework agreement was intended to boost production of the air-defense munition.

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