RTX Corporation (NYSE:RTX) on Tuesday disclosed that Raytheon won a $1.7 billion contract to provide Spain with four Patriot air and missile defense systems.
Details
Raytheon, an RTX business, is working with Spanish defense firms, including Sener, on the electro-mechanical control system for the GEM-T missile within its global Patriot supply chain.
The Patriot system, combat-proven worldwide, defends against long-range cruise missiles, tactical ballistic missiles, and a full range of air-breathing threats.
Also Read: Elon Musk Prepares SpaceX IPO Valued At More Than RTX, Boeing, Lockheed Combined
Supported by advanced command-and-control, Patriot has successfully intercepted hundreds of aerial threats and forms the core air defense for 19 countries.
This contract follows additional 2025 orders from Germany, the Netherlands, and Romania for Patriot systems.
The deal covers radars, launchers, command and control stations, and training equipment.
Recent Contract Wins
This month, Pratt & Whitney grabbed a $1.6 billion undefinitized contract for F135 engine sustainment, supporting all three variants of the F-35 Lightning II, the world’s most advanced fighter aircraft.
Also, Raytheon penned a deal with Amazon.com, Inc.’s (NASDAQ:AMZN) Amazon Web Services (AWS) to significantly advance satellite data processing and mission control operations.
RTX Price Action: RTX shares were up 0.94% at $187.43 at the time of publication on Tuesday. The stock is trading at a new 52-week high, according to Benzinga Pro data.
Read Next:
Photo by T. Schneider via Shutterstock
Recent Comments