Raytheon wins a US missile-defense contract worth up to $6.3 billion.

Raytheon said it received a multiyear US military contract worth as much as $6.3 billion to produce and sustain Standard Missile-3 Block IB interceptors. The sea-based system is used by the US Navy to defend against short- and intermediate-range ballistic-missile threats.

The company said most work will take place in Tucson, Arizona, and Huntsville, Alabama. The award follows other large missile agreements and a broader push to increase manufacturing capacity, although industry executives have warned that uncertain congressional funding could slow facility and supply-chain investment.