The U.S. Navy has exercised a $270 million contract option with Raytheon for production of Standard-6 missiles and spares requirements.

The Standard-6 has been deployed since 2013, with Raytheon delivering more that 250 of the missiles since then.

"U.S. Navy commanders want both capability and flexibility to meet a wide variety of missions, and that's exactly what SM-6 offers," said Mike Campisi, Standard Missile-6 senior program director. "Its use is transforming defense."

Raytheon said the SM-6 in recent tests has shown expanded mission capability in anti-air warfare, sea-based terminal and anti-surface warfare.

The SM-6 is a multi-mission over-the-horizon air defense system and uses active and semi-active guidance modes and advanced fuzing. It also incorporates the advanced signal processing and guidance control capabilities from Raytheon's AMRAAM Advanced Medium-Range Air-to-Air Missile.