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RTX's Raytheon awarded $333 million contract for SM-6 Block IA production

1. Raytheon secures a $333 million contract for SM-6 missiles. 2. SM-6 enhances U.S. Navy's offensive and defensive capabilities at sea. 3. Production to be completed by 2027 across multiple facilities. 4. Successful anti-missile test conducted in March 2024 demonstrates efficacy.

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Why Bullish?

The contract signifies strong demand for RTX's defense products, likely boosting revenue.

How important is it?

The significant contract and new capabilities directly enhance RTX's market position and future prospects.

Why Long Term?

Ongoing production and advancements in military capabilities can benefit RTX's long-term growth.

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Missile supports anti-air, anti-surface warfare and sea-based terminal ballistic missile defense in one solution , /PRNewswire/ -- Raytheon, an RTX (NYSE: RTX) business, was awarded a $333 million contract from the U.S. Navy to produce Standard Missile-6 (SM-6) Block IA missiles. "SM-6 has a proven performance, and this contract is an important step for providing this urgently needed weapon to our armed forces," said Barbara Borgonovi, president of Naval Power at Raytheon. "Raytheon continues to work closely with our customers to ensure our military has an unfair advantage at sea and to keep our adversaries guessing." Deployed on U.S. Navy ships, SM-6 delivers a proven, over-the-horizon offensive and defensive capability by leveraging the time-tested Standard Missile airframe and propulsion system. It's the only missile that supports anti-air and anti-surface warfare and sea-based terminal ballistic missile defense in one solution, enabling the U.S. and its allies to cost-effectively increase the offensive might of surface forces. SM-6 has been successfully fired from various U.S. Navy ships, unmanned vessels, and launchers on land. In March 2024, SM-6 demonstrated its anti-missile capabilities by successfully intercepting a medium-range ballistic missile target at sea during the Flight Test Aegis Weapon System (FTM)-32 exercise. Production under this contract will be completed at Raytheon facilities in Tucson, Ariz., Huntsville, Ala., Andover, Mass., and Dine, N.M. with expected completion by 2027. 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 RTXWith more than 185,000 global employees, RTX pushes 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, and developing next-generation technology solutions and manufacturing to help global customers address their most critical challenges. The company, with 2023 sales of $69 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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