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RTX's Raytheon awarded $205 million contract for continued production of the Phalanx Close-In Weapon System

1. Raytheon secures a $205 million Navy contract for Phalanx system upgrades. 2. The Phalanx system is crucial for U.S. Navy ship defense against threats. 3. The contract work will occur in Louisville, Kentucky, and other U.S. sites. 4. Phalanx recently intercepted a missile, demonstrating its effectiveness in real scenarios. 5. RTX continues to be a key player in defense technology and contracting.

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Why Bullish?

The substantial contract indicates strong demand for RTX's defense capabilities, enhancing financial forecasts. Past similar contracts have corresponded with positive stock performance.

How important is it?

The article highlights a pivotal defense contract that signals future growth opportunities, making it highly relevant to RTX's operational success.

Why Long Term?

The ongoing nature of the contract extends through 2029, suggesting sustained revenue for RTX. This long-term security can stabilize stock price amidst market volatility.

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System remains an integral part of ship self-defense for U.S. Navy , /PRNewswire/ -- Raytheon, an RTX (NYSE: RTX) business, has been awarded a $205 million contract from the U.S. Navy for continued production of the Phalanx Close-In Weapon System (CIWS). As part of the contract, Raytheon will provide upgrades, conversions, overhauls, and related equipment. "Phalanx is our Navy's last line of defense, expertly designed to protect our sailors from the threats they face every day," said Barbara Borgonovi, president of Naval Power at Raytheon. "Securing this contract underscores the trust the U.S. Navy places in an absolutely critical system." The Phalanx weapon system is a rapid-fire, computer-controlled, radar-guided gun that can defeat anti-ship missiles and other close-in threats that may penetrate preceding layers of defense. It is installed on all U.S. Navy surface combatant ship classes and on those of 24 allied nations. In January 2024, Phalanx was deployed by the USS Gravely to destroy a Houthi missile in the Red Sea just moments before impact, saving the lives of over 300 sailors onboard. Work on this contract will take place in Louisville, Ky. and other U.S. sites through 2029. About Raytheon Raytheon, 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 RTX RTX 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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