Raytheon awarded contract for missile interceptor

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Tucson-based Raytheon Missile Systems has been awarded a contract to continue development of a new ship-based missile interceptor with Japan.

The five-year, $925 million contract award comes from the U.S. Missile Defense Agency.

The contract increases the total value of Raytheon's work on the missile interceptor to more than $1.5 billion, the Arizona Daily Star reported.

Raytheon says it has delivered more than 130 variants of the SM-3 missiles to the U.S. and Japanese navies.

Raytheon says the new missile interceptors will have larger rocket motors that allow a greater area to be defended.

They're on track for deployment in 2018.

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