11:38 AM EDT, 04/25/2024 (MT Newswires) -- RTX (RTX) said Thursday its Raytheon business has been awarded a $344 million contract to develop two missile variants, the SM-2 Block IIICU and SM-6 Block IU.

The missile variants will share a common guidance section containing the electronics and software for target navigation.

The development program is largely funded by The US Department of Defense's Foreign Military Sales program and the initial users of the updated missiles will be the US, Australia, Canada, Korea, and Japan, the company said.

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