Latest news with #defensecontract
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 (
CNA
10-06-2025
- Business
- CNA
Proximus, Thales win contract to modernise NATO IT infrastructure
Belgium's Proximus and France's Thales have won a major NATO contract to modernise the alliance's IT infrastructure, the two companies said on Tuesday. The Belgian telecoms provider and the French defence group have been selected by the NATO Communications and Information Agency to manage and operate its core network until the end of 2029, they said in a joint statement. Financial details of the contract were not disclosed by the companies. Belgian newspaper L'Echo reported the deal could be worth more than 100 million euros ($113.9 million). Thales will provide secure cloud infrastructure while Proximus will upgrade Wi-Fi networks at NATO's sites in The Hague, Netherlands, and Braine l'Alleud, Belgium, and supply 5,000 laptops.
Bloomberg
04-06-2025
- Business
- Bloomberg
UAE Signs $2.5 Billion Deal to Supply Missile Boats to Kuwait
Emirati defense company EDGE Group PJSC signed a $2.45 billion deal to supply Kuwait with a fleet of missile boats, highlighting the United Arab Emirates' advances in homegrown military capabilities. The contract with Kuwait's Defense Ministry is the Abu Dhabi-owned conglomerate's largest since launching in late 2019, a spokesperson for the company said on Wednesday. As the deal's prime contractor, EDGE will deliver 62-meter-long Falaj 3 vessels, including munitions. The company awarded Abu Dhabi Ship Building, its naval arm, a seven billion dirham ($1.9 billion) contract to build, procure, and provide logistic support.
Arabian Business
03-06-2025
- Business
- Arabian Business
UAE defence firm signs $2.45bn missile boat deal with Kuwait
UAE defence major EDGE has announced the signing of a AED9bn ($2.45bn) contract with the Kuwait Ministry of Defence for the supply of FALAJ3 62m missile boats. This contract marks the largest naval shipbuilding export in the region and ranks among the highest-value naval export deals globally. As the prime contractor, EDGE will lead the programme which includes the design, construction, trials, and delivery of the vessels, in addition to Integrated Logistics Support (ILS) and In-Service Support (ISS). UAE and Kuwait missile boat deal EDGE will also provide the ammunition for the vessels, further demonstrating its end-to-end capability offering. Abu Dhabi Ship Building (ADSB), EDGE Group's naval arm and the UAE's leading shipbuilder, has been selected as the build subcontractor for the programme. Hamad Al Marar, Managing Director and CEO, EDGE, said: 'This agreement with Kuwait is hugely significant both in scale and strategic importance. It deepens long-term defence ties between our nations, brings a proven class of advanced vessels into regional service, and reinforces EDGE's position as a trusted international partner. 'It also reflects the pace of industrial and engineering progress we've achieved in just a few years, and our ability to design, build, and deliver complex naval platforms at scale. 'As we enter a new phase of export-led growth, this programme marks a clear signal of global confidence in what EDGE can deliver.' The FALAJ 3-class missile boat has also been selected by the UAE Navy, with the first vessel, ALTAF, formally commissioned into service in February 2025. This operational deployment reflects the vessel's proven capability and performance in regional waters. With the latest agreement, these advanced 62m vessels are tailored to meet Kuwait's operational requirements, offering high performance, advanced combat systems, and enhanced capabilities for littoral defence operations. This latest contract reinforces EDGE's position as a trusted partner for customers seeking turnkey defence solutions and integrated long-term support, while driving the UAE's strategic objectives for defence exports and industrial collaboration.
RNZ News
23-05-2025
- Automotive
- RNZ News
Tauranga drone company wins big at tech awards
Tauranga based drone manufacturer Syos Aerospace won the top prize at the Hi-Tech Awards last night in Wellington. The company makes uncrewed vehicles for land, sea and air and recently won a big UK defence contract. CEO and founder Samuel Vye talks to Susie. Samuel Vye Photo: Supplied / Matthew Power
