Missile Defense Agency tasks Raytheon with more SM-3 production

TUCSON, AZ. Raytheon won a Missile Defense Agency contract to increase its procurement of Standard Missile-3 Block IB missiles from eight to 44.

SM-3 missiles are designed to destroy incoming short-, medium-, and intermediate-range ballistic missile threats by hitting them in space, a concept sometimes described as "hitting a bullet with a bullet."

Work on the $350 million contract will occur in Tucson and Huntsville, Ala., going through September 2016.