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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 contract from the U.S. Navy. 2. The contract involves upgrades to the Phalanx Close-In Weapon System. 3. Phalanx protects Navy ships from anti-ship missiles and threats. 4. Work on the contract will occur through 2029 at U.S. facilities. 5. RTX is a leading defense solutions provider globally.

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Why Bullish?

The contract demonstrates strong demand for military defense systems, positively affecting RTX's revenue outlook. Historically, similar contracts have led to stock price increases for defense companies.

How important is it?

The contract's size and duration suggest significant financial benefits for RTX, enhancing market position. Contracts with the U.S. Navy often signify reliability and trust, attracting further investment.

Why Long Term?

The contract extends through 2029, indicating sustained future revenue. Long-term defense contracts usually lead to stable financial performance over years.

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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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