Thor Corporation missile defense contract increased by $8.4 billion.

According to reports, the Missile Defense Agency of the US Department of Defense is increasing the amount of a contract previously awarded to the Raytheon Company, a subsidiary of RTX, involving a defensive weapon used by the Navy. Raytheon Company has been awarded a $8.41 billion non-competitive ceiling increase, bringing the total value of the contract to $11.74 billion. Under the agreement with the department, Raytheon will manage various models of the "Standard-3" Block missile for the US and its allies, and provide materials, services, engineering, and product support. Raytheon's "Standard-3" missile is a ship-based and land-based missile designed to intercept ballistic missiles in space. Raytheon Company states that the deployment of the SM-3 uses a technology likened to "hitting a bullet with another bullet." The contract work will be conducted in Tucson, Arizona and Huntsville, Alabama until October 29, 2029.