LONDON (Reuters) – Britain’s Ministry of Defence said on Sunday it would spend 405 million pounds ($514 million) to upgrade a missile system now being used by the Royal Navy to shoot down hostile drones over the Red Sea. The Sea Viper Air Defence system will be upgraded with missiles featuring a new warhead and software enabling it to counter ballistic missile threats, the MoD said in a statement. The contracts were awarded to the British division of MBDA, a missiles joint venture owned by Airbus, BAE Systems and Leonardo, the MoD said. “As the situation in the Middle East worsens, it is vital…