StockNews.AI
RTX
StockNews.AI
56 days

RTX's Raytheon awarded $250 million contract from MELCO for ESSM Block 2 licensed production

1. Raytheon secures a $250 million contract for missile production in Japan. 2. This partnership enhances Japan's defense capabilities and U.S.-Japan relations. 3. ESSM Block 2 improves missile performance and operational flexibility. 4. Raytheon's collaboration with MELCO spans over 50 years in defense. 5. The contract supports the broader NATO SEASPARROW initiative.

Mass Contract
-3.57%Current Return
VS
+1.04%S&P 500
$145.8106/24 08:32 AM EDTEvent Start
$140.60506/25 02:55 PM EDTLatest Updated
6m saved
Insight
Article

FAQ

Why Bullish?

The $250 million contract indicates strong demand and growth potential for RTX's defense projects.

How important is it?

This significant contract indicates increased revenue and long-term strategic partnerships in the defense sector.

Why Long Term?

The contract fosters a sustainable defense relationship, likely enhancing future opportunities and revenues.

Related Companies

NOCBAGDLMT
Contract represents the latest milestone in the companies' longstanding partnership , /PRNewswire/ -- Raytheon, an RTX (NYSE: RTX) business, has been awarded a $250 million contract from Japan's Mitsubishi Electric Corporation (MELCO) for ESSM Block 2 licensed production. Under the Direct Commercial Sale contract, Raytheon will provide missile kits, parts, and components as well as technical support for missile production at MELCO in Japan. "This innovative licensed production arrangement is the culmination of decades of partnership," said Barbara Borgonovi, president of Naval Power at Raytheon. "As Japan invests in this critical weapon system, it will strengthen their defense capabilities while reinforcing the vital security alliance between our nations."  Raytheon and MELCO have a longstanding partnership spanning over 50 years on critical defense programs. This contract represents the latest chapter in their collaborative relationship and allows Japan to enhance its domestic defense manufacturing and missile defense capabilities, while also strengthening the broader U.S.-Japan security partnership. ESSM Block 2 is a short to medium-range, ship-launched, dual-mode, guided missile that has increased maneuverability and improved performance over its Block 1 predecessor. The newest variant reduces dependence on shipboard illumination and is integrated on a wide variety of combat systems and launchers, delivering improved performance in stressing marine environments, and has significant digital processing margin to keep pace with evolving threats through software improvements. Japan is a customer nation of ESSM, which is managed by the NATO SEASPARROW Consortium composed of 12 nations. 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

Related News