Nearly $1 billion added to Raytheon’s contract to build a new, larger SM-3 interceptor cooperatively with Japan’s Mitsubishi Heavy Industries is expected to carry the program through to its initial flight test in preparation for deployment in 2018. The funding will support a one-year restructuring of the program. Earlier, officials planned to begin intercept tests in fiscal 2014; that milestone has now slipped into calendar year 2016, according to government auditors. Despite technical ...


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