Latest news with #NavalSeaSystemsCommand
Globe and Mail
2 days ago
- Business
- Globe and Mail
RTX's Arm Secures $300M Contract for ESSM Block II Missile Assemblies
RTX Corporation 's RTX business segment, Raytheon, recently secured a $299.7 million modification contract involving the Evolved Seasparrow Missile (ESSM). Per the terms of the deal, RTX will provide test equipment and spares, as well as exercise options for ESSM Block 2 guided missile assemblies. Details of RTX's Deal The work related to this contract will be executed in multiple locations globally, including the United States, Australia, Canada, Norway, the Netherlands and a few other nations. This contract is projected to be completed by September 2030. The award has been provided by the Naval Sea Systems Command, Washington, D.C. What's Favoring RTX? With countries worldwide enhancing their defense capabilities, spending on advanced military arms and ammunition has been rapidly increasing lately. This includes growing investments in missiles and missile systems, which are essential for modern warfare. RTX, as a prominent manufacturer of missile systems, has thus been witnessing a steady flow of orders from the Pentagon and other U.S. allies. The recent contract is an example of that. RTX's ESSM Block II is a versatile, combat-proven naval defense system with more than 330 successful live sea firings. Offering enhanced performance over Block I, it strengthens fleet protection against diverse threats. These advanced features likely drive its growing demand, reflected in the latest contract win. RTX's Growth Prospects Rising military conflicts, terrorism and border disputes have led nations to increase their focus on national security, particularly on missile defense systems in recent times, backed by the rapid development of advanced missile technologies over the last decade. This is likely to have prompted the Mordor Intelligence firm to forecast a compound annual growth rate of 5% for the global missiles and missile defense systems market during the 2025-2030 time period. Such strong growth projections indicate solid opportunities for RTX, which has a handful of combat-proven missiles in its product portfolio, like the TOW missile, Guidance Enhanced Missile, Advanced Medium Range Air-to-Air Missile, Tomahawk, Standard Missile 2 and a few more, in addition to the ESSM. Opportunities for Other Defense Stocks Other defense companies that are likely to enjoy the perks of the expanding missiles and missile system market have been discussed below: Northrop Grumman NOC: Northrop Grumman provides high-speed, long-range strike weapons like the AARGM-ER, which is a supersonic, air-launched tactical missile system. It also builds advanced missile defense technology, ranging from command systems to directed energy weapons, advanced munitions and powerful sensors. The company's long-term (three to five years) earnings growth rate is 3.3%. The Zacks Consensus Estimate for NOC's 2025 sales indicates year-over-year growth of 2.8%. The Boeing Company BA: It manufactures various missile defense systems, including the Ground-based Midcourse Defense, Aegis Ballistic Missile Defense and Avenger. Boeing-built missile defense systems have been protecting its customers for nearly 25 years against threats ranging from intercontinental ballistic missiles to hostile aircraft. The company has a long-term earnings growth rate of 18.1%. The Zacks Consensus Estimate for BA's 2025 sales indicates year-over-year growth of 25.6%. Lockheed Martin LMT: Lockheed Martin's missile defense program includes the Patriot Advanced Capability-3 and Terminal High-Altitude Area Defense air and missile defense programs. It also manufactures the Multiple Launch Rocket System, the Joint Air-to-Surface Standoff Missile and Javelin tactical missiles. The company has a long-term earnings growth rate of 10.5%. The Zacks Consensus Estimate for LMT's 2025 sales indicates year-over-year growth of 4.7%. RTX Stock's Price Movement Shares of RTX have gained 25.1% in the past six months compared with the industry 's 15.5% growth. RTX's Zacks Rank RTX currently carries a Zacks Rank #4 (Sell). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Zacks Names #1 Semiconductor Stock It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom. With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028. See This Stock Now for Free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Boeing Company (BA): Free Stock Analysis Report Lockheed Martin Corporation (LMT): Free Stock Analysis Report Northrop Grumman Corporation (NOC): Free Stock Analysis Report RTX Corporation (RTX): Free Stock Analysis Report This article originally published on Zacks Investment Research (
Business Insider
5 days ago
- Business
- Business Insider
RTX awarded $299.69M Navy contract modification
RTX (RTX) was awarded a $299.69M firm-fixed-price modification to previously awarded contract to procure test equipment and spares, and to exercise options for Evolved SeaSparrow Missile Block 2 Guided Missile Assemblies. Work is expected to be completed by September 2030. The Naval Sea Systems Command is the contracting activity. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Globe and Mail
10-06-2025
- Business
- Globe and Mail
RTX Secures a $647M Contract to Support AN/SPY-6(V) Family of Radars
RTX Corporation 's RTX business segment, Raytheon, recently secured a modification contract worth $646.5 million to exercise options for hardware production of the AN/SPY-6(V) family of radars. The award has been offered by the Naval Sea Systems Command, Washington, D.C. A major portion of the work related to this deal will be executed in Andover, MA; San Diego, CA; Sykesville, MD; and Scottsdale, AZ. The contract is projected to be finished by September 2028. Importance of RTX's AN/SPY-6(V) Family of Radars RTX's AN/SPY-6 is a variant of its SPY-6 radar family that can protect against ballistic missiles, cruise missiles, hostile aircraft and surface ships at the same time. They offer various advantages over conventional radars, including a longer detection range, higher sensitivity and more accurate discrimination. Its solid demand is evidenced by the fact that SPY-6 radars are being delivered and integrated onto all the Navy's newest ships, including DDG 51 Flight III destroyers, frigates, aircraft carriers and amphibious warships. RTX's Growth Opportunities Rising geopolitical tensions, increased defense spending and the need for advanced threat detection are driving demand for military radars. This must have prompted the Mordor Intelligence firm to project a CAGR of 5.2% for the military radar market in the 2025-2030 period. Such growth projections bode well for prominent radar manufacturers like RTX. RTX's product portfolio consists of varied radars, such as AN/TPY-2, AN/APG-79, APG-82(V)1, GhostEye MR and a few more, which enjoy solid demand in the global military radar market. Opportunities for Other Defense Stocks Some other defense contractors that manufacture radars and are thus projected to gain from the expanding global military radar market have been discussed below: Lockheed Martin Corp. LMT: The company's radars are the choice of more than 45 nations across six continents. Its product portfolio consists of varied radars like TPY-4, AN/APY-9 Radar, AN/TPQ-53 Radar System, SPY-7, TPS-77 and Sentinel A4. LMT has a long-term (three to five years) earnings growth rate of 10.5%. The Zacks Consensus Estimate for the company's 2025 sales indicates year-over-year growth of 4.7%. Northrop Grumman Corp. NOC: The company is a pioneer in manufacturing Active Electronically Scanned Array radars, with more than 60 years of experience. Its diverse product portfolio also includes a handful of radars like AN/ZPY-5 VADER, AN/TPS-80 G/ATOR, AN/SPQ-9B and HAMMR. Northrop has a long-term earnings growth rate of 3.3%. The Zacks Consensus Estimate for the company's 2025 sales indicates year-over-year growth of 2.8%. L3Harris Technologies, Inc. LHX: The company's product portfolio includes the SPS-48 land-based surveillance radar, AN/APY-11 Multimode radar, Tactical Air Surveillance radar, AN/SPS-48G Long range 3D surveillance radar and many more. L3Harris has a long-term earnings growth rate of 12%. The Zacks Consensus Estimate for LHX's 2025 sales implies an improvement of 1%. RTX Stock Price Movement In the past year, shares of RTX have risen 31.8% compared with the industry 's growth of 15.5%. RTX's Zacks Rank RTX currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Only $1 to See All Zacks' Buys and Sells We're not kidding. Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent. Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators, and more, that closed 256 positions with double- and triple-digit gains in 2024 alone. See Stocks Now >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Lockheed Martin Corporation (LMT): Free Stock Analysis Report Northrop Grumman Corporation (NOC): Free Stock Analysis Report L3Harris Technologies Inc (LHX): Free Stock Analysis Report RTX Corporation (RTX): Free Stock Analysis Report This article originally published on Zacks Investment Research (
Business Insider
07-06-2025
- Business
- Business Insider
RTX awarded $646.52M Navy contract modification
RTX (RTX) was awarded a $646.52M fixed-price incentive modification to a previously awarded contract to exercise options for hardware production of the AN/SPY-6 family of radars. Work is expected to be completed by September 2028. Naval Sea Systems Command is the contracting activity. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Yahoo
28-05-2025
- General
- Yahoo
Navy relieves admiral in charge of unmanned systems office
The Navy relieved the executive officer for unmanned and small combatants programs on Tuesday, the service said. Dr. Brett Seidel, acting assistant secretary of the Navy for research, development & acquisition, dismissed Rear Adm. Kevin Smith as program executive officer for the Program Executive Office for Unmanned and Small Combatants 'due to a loss of confidence based on a complaint substantiated by an Office of the Naval Inspector General investigation,' according to a release. 'The Navy maintains the highest standards for leaders and holds them accountable when those standards are not met,' the release said. Navy relieves CO of Navy Information Operations Command Colorado The release did not provide additional details on Smith's dismissal or the nature of the complaint. The term 'loss of confidence' is a common refrain attached to the departure of a senior military leader. On June 1, 2023, Smith was appointed the program executive officer for the Program Executive Office for Unmanned and Small Combatants, an acquisition authority within Naval Sea Systems Command that helps design, develop and create 'unmanned maritime systems, mine warfare systems, special warfare systems, expeditionary warfare systems and small surface combatants,' according to the service. His awards include three Legion of Merit awards, six Meritorious Service Medals, two Navy Commendation Medals and the Navy and Marine Corps Achievement Medal. Smith has been temporarily reassigned to the staff of Naval Sea Systems Command, according to the release. Melissa Kirkendall, executive director for the Program Executive Office for Unmanned and Small Combatants, has temporarily assumed Smith's duties.
