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RTX's Raytheon awarded $536 million US Navy contract for SPY-6 family of radars

1. RTX secures a $536 million contract from the U.S. Navy for SPY-6 radars. 2. Contract involves integration, testing, and software upgrades for advanced radar systems. 3. SPY-6 enhances Navy's defense against modern threats on future deployments. 4. More than 60 Navy ships will receive SPY-6 installations over the next decade. 5. Partnership showcases RTX's commitment to advanced defense technology and client support.

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FAQ

Why Bullish?

The significant contract value reflects robust demand for RTX's defense technology. Historical context shows large contracts typically correlate with positive stock performance.

How important is it?

The contract's size and its strategic importance to the U.S. Navy enhance RTX's financial outlook significantly.

Why Long Term?

The contract's implications affect future revenue streams over the next decade with ongoing support and upgrades.

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Contract provides continued integration and test support for the U.S. Navy's most advanced maritime radar , /PRNewswire/ -- Raytheon, an RTX (NYSE: RTX) business, has been awarded a $536 million contract from the U.S. Navy for the SPY-6 family of radars. The contract is a follow-on to the previously awarded Integration and Production Support contract and includes upgrading Flight IIA destroyers with the SPY-6(V)4 variant. Under the sole source award, Raytheon will provide continued support for the SPY-6 family of radars through training, engineering services, ship installation, integration and testing, as well as software upgrades to enhance radar capabilities. "SPY-6 is the most advanced radar in the U.S. naval fleet, providing ships a new level of defense against evolving threats," said Barbara Borgonovi, president of Naval Power at Raytheon. "This contract highlights the essential role of this technology in supporting the U.S. Navy's technology roadmap for several decades to come." SPY-6 is now installed on two new U.S. Navy ships, with three additional ships slated for installation and undergoing various stages of testing in 2025. Over the next decade, SPY-6 is expected to be deployed on more than 60 U.S. Navy ships, enhancing defense against air, surface, and ballistic threats. Work on this contract is expected to be completed by May 2026. 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

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