Final preparations are being made to restart Standard Missile-2 production after Australia, Japan, South Korea and the Netherlands pooled resources earlier this year to make a $650 million SM-2 purchase through foreign military sales.
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Raytheon's SM-2, capable of reaching altitudes of 65,000 feet, will be used by the four navies to defend against anti-ship missiles and aircraft.
Production of the SM-2 was halted in 2013, but the production factory is now being reconfigured and modernised in a move Raytheon said will increase production efficiencies.
Vice president of naval and area mission defence at Raytheon Missile Systems Todd Callahan said the production restart will give the company opportunities to keep modernising the missile.
"When we flip the switch on this enhanced production line, Raytheon will assemble the most advanced and affordable SM-2s possible," Callahan said.
"SM-2 provides unparalleled fleet defense for navies worldwide. We'll use this production restart to further improve this already modern missile for customers around the globe."
New SM-2 assembly will begin in early 2018 with the first deliveries expected in 2020. The delivery will include more than 280 SM-2 Block IIIA and IIIB missiles.
Along with Australia, Japan, South Korea and the Netherlands; Spain, Taiwan, Canada and Germany have also purchased the SM-2.