"Raytheon Company's Missile Systems business has reached a $1 billion, five-year strategic agreement to purchase propulsion systems from Aerojet Rocketdyne for Standard Missile products," the release said.
The deal represents a supply chain centrepiece of multi-year Standard Missile contracts that Raytheon recently received, the company explained.
Aerojet Rocketdyne provides the majority of solid rocket motors for Raytheon's Standard Missile SM-2, SM-3 interceptor and SM-6 missile, the release noted.