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RTX's Raytheon awarded $580 million production contract for Next Generation Jammer Mid-Band

1. Raytheon awarded $580 million contract from U.S. Navy for NGJ-MB system. 2. Contract supports offensive electronic attack capabilities for naval aviators. 3. NGJ-MB improves defense against advanced radar and electronic threats. 4. Work spread across multiple states through 2028, enhancing local economies. 5. RTX continues to secure defense contracts, indicating strong market position.

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FAQ

Why Bullish?

This contract signifies steady demand and reinforces RTX's market position, similar to trends seen during prior defense spending increases during geopolitical tensions, notably after 9/11 and during recent global conflicts which boosted defense budgets.

How important is it?

The awarded contract is significant for RTX's revenue stream and operational capabilities, hinting at future contracts centered on defense technologies.

Why Long Term?

The ongoing contract work through 2028 indicates sustained revenue generation and operational stability, bolstering long-term growth prospects based on historical defense contracts that often span multiple years.

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Electronic attack capability will counter new and emerging adversary threats , /PRNewswire/ -- Raytheon, an RTX (NYSE: RTX) business, has been awarded a $580 million follow-on production contract from the U.S. Navy for the Next Generation Jammer Mid-Band (NGJ-MB) system. Under the contract, Raytheon will provide additional production NGJ-MB pod shipsets, including pods for the Royal Australian Air Force, as well as spares and peculiar support equipment. "Offensive Electronic Attack provides a tremendous combat capability, protecting strike packages, kinetic weapons and high-value airborne assets across a broad range of missions," said Barbara Borgonovi, president of Naval Power at Raytheon. "With this contract, we'll ensure that our naval aviators in all theaters are better prepared to counter adversary threats and support the Joint Fight." NGJ-MB is a cooperative development and production program with the Royal Australian Air Force. It is an airborne electronic attack system consisting of two pods containing active electronically scanned arrays that radiate in the mid-band frequency range. The U.S. Navy employs NGJ-MB on the EA-18G Growler to target advanced radar threats, communications, data links and non-traditional radio frequency threats. Work under this contract will take place in Forest, Mississippi; McKinney, Texas; El Segundo, California; and Andover, Massachusetts through 2028. 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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