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RTX's Raytheon awarded $529 million contract to replenish Dutch Patriot air defense system

1. Raytheon secures $529 million contract for Patriot systems with the Netherlands. 2. Contract replenishes a Patriot unit previously sent to Ukraine. 3. Patriot systems enhance air defense capabilities for 19 countries. 4. Work will be conducted largely in Massachusetts and Alabama. 5. RTX's commitment strengthens European security through enhanced defense capabilities.

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FAQ

Why Bullish?

The contract signals strong demand for RTX's defense systems, potentially boosting revenues.

How important is it?

Significant contract values and defense spending trends present direct impacts on RTX's business outlook.

Why Long Term?

Such contracts contribute to sustained growth in defense spending and market share over time.

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Replacement equipment will backfill fire unit sent to Ukraine , /PRNewswire/ -- Raytheon, an RTX (NYSE: RTX) business, was awarded a $529 million contract to supply the Netherlands with a Patriot® air and missile defense system fire unit and related equipment. This contract supports the replenishment of a Patriot fire unit donated to Ukraine. The direct commercial sales contract includes a single fire unit consisting of a radar, launchers, command and control stations, and other support equipment.   "Raytheon is committed to partnering with the Dutch as they continue to advance their integrated air and missile defense capabilities," said Pete Bata, senior vice president of Global Patriot at Raytheon. "The Netherlands' investment in Patriot ensures collective security and deterrence across Europe." Patriot is the only combat-proven ground-based air and missile defense capability in the world able to defend against advanced long-range cruise missiles, tactical ballistic missiles, and the full spectrum of air-breathing threats. Patriot is the foundation of air defense for 19 countries, and the system continues to demonstrate its effectiveness against advanced aerial threats and massive complex raid attacks.  Work on this contract will primarily be conducted in Andover, Mass., and Huntsville, Ala. 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 With 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 corporatepr@rtx.com  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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