03:36 AM EDT, 10/16/2024 (MT Newswires) -- RTX's (RTX) Raytheon said late Tuesday that it has begun full-rate production for Standard Missile-3 Block IIA amid what it described as increased demand.

The production milestone triggered a $1.9 billion award from the US Missile Defense Agency in July to produce rounds for both the US and Japan.

Full-rate production means there is little missile design or manufacturing risk, the company said.

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