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RTX's Raytheon awarded $1.1 billion U.S. Navy contract to produce AIM-9X Block II missiles

1. Raytheon awarded a $1.1 billion U.S. Navy contract for AIM-9X missiles. 2. This contract represents a historic milestone for the AIM-9X program. 3. Production will increase to 2,500 missiles per year, signaling strong demand. 4. AIM-9X missile is crucial for U.S. and international defense operations. 5. RTX leads in aerospace and defense sectors, enhancing its market position.

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FAQ

Why Very Bullish?

The $1.1 billion contract enhances RTX's revenue and market share, similar to past contracts boosting stock prices.

How important is it?

The significant contract indicates a strong future revenue position for RTX, likely influencing investor sentiment positively.

Why Long Term?

Sustained production increases and demand for AIM-9X align with long-term defense spending trends.

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Award represents largest production contract to date , /PRNewswire/ -- Raytheon, an RTX (NYSE: RTX) business, was awarded a $1.1 billion contract from the U.S. Navy to produce AIM-9X Block II missiles. This is the largest contract awarded for the program and will increase production to 2,500 missiles per year. "This award represents a historic milestone for the AIM-9X program, further emphasizing its importance to the U.S. and partnered nations," said Barbara Borgonovi, president of Naval Power at Raytheon. "Through our partnership with the U.S. Navy, we are well-positioned to support this increased demand." AIM-9X is the most advanced infrared-tracking, short-range, air-to-air and surface-to-air missile that is combat proven in several theaters around the world. It is configured for easy installation on a wide range of modern aircraft and provides proven layered defense with ground-launched capabilities, including the National Advanced Surface-to-Air Missile System, or NASAMS. A U.S. Navy-led joint program with the U.S. Air Force, AIM-9X is used by over 30 allied and partner nations and continues to gain international interest. About RaytheonRaytheon, an RTX business, is a leading provider of defense solutions to help the U.S. government, our allies and partners defend their national sovereignty and ensure their security. For more than 100 years, Raytheon has developed new technologies and enhanced existing capabilities in integrated air and missile defense, smart weapons, missiles, advanced sensors and radars, interceptors, space-based systems, hypersonics and missile defense across land, air, sea and space. About RTXRTX is the world's largest aerospace and defense company. With more than 185,000 global employees, we push the limits of technology and science to redefine how we connect and protect our world. Through industry-leading businesses – Collins Aerospace, Pratt & Whitney and Raytheon – we are advancing aviation, engineering integrated defense systems for operational success, and developing next-generation technology solutions and manufacturing to help global customers address their most critical challenges. The company, with 2024 sales of more than $80 billion, is headquartered in Arlington, Virginia. For questions or to schedule an interview, please contact [email protected]. SOURCE RTX WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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