Raytheon has secured a $270m contract to provide Standard Missile-6 (SM-6) production and associated spares to the US Navy.
Standard Missile-6 senior programme director Mike Campisi said: "The US Navy commanders want both capability and flexibility to meet a wide variety of missions, and that's exactly what SM-6 offers. Its use is transforming defence."
Designed for deployment on cruisers and destroyers, the extended range active missile (ERAM) provides air defence capabilities against fixed and rotary-wing aircraft, unmanned aerial vehicles, and land-attack anti-ship cruise missiles in flight, both over sea and land.
Forming part of a major component in the US Navy's naval integrated fire control-counter air (NIFC-CA), the system uses both active and semi-active guidance modes and advanced fusing techniques to protect against several air threats.
Raytheon has delivered more than 250 missiles to the US Navy since it was first deployed in 2013.
A recent test launch of the missile demonstrated its mission capability in areas such as anti-air warfare, sea-based terminal and anti-surface warfare.
The final assembly of SM-6 is expected to be carried out at the company's production facility at Redstone Arsenal in Huntsville, Alabama, US.
In March 2015, Raytheon secured a contract worth approximately $110m from the US Navy to supply the long-lead materials to meet SM-6 full-rate production requirements and SM-2 sustainment.
It was followed by another contract worth $149m for 74 SM-6 all up rounds, spares, containers, and services in September.