RTX (RTX) Wins $729M Counter-Drone Contracts

RTX's Raytheon subsidiary secured a $729M contract for counter-drone systems (LIDS) with the US Army, Qatar, and Jordan. The system includes Ku-band Radio Frequency Sensor and Coyote effectors. RTX plans to expand production capacity to meet global demand. The company operates in aeronautics, missile systems, and aerial navigation.

RTX's Raytheon subsidiary secured $729M in contracts for counter-drone systems with the US Army, Qatar, and Jordan, marking the first international sales of its KuRFS radar and Coyote interceptor technologies. The contracts cover both fixed-site and mobile configurations of the LIDS system, designed to detect and counter unmanned aerial threats. RTX is expanding production capacity to meet demand, but did not disclose individual contract values or delivery timelines.

Raytheon, a unit of RTX, secured $729M in contracts from the U.S. Army, Qatar, and Jordan for LIDS counter-drone systems. The deal covers fixed and mobile configurations. RTX shares fell 0.09% to $186.50 in pre-market trading.

RTX's Raytheon has secured $729 million in contracts for counter-drone systems from the U.S., Qatar, and Jordan. The contracts involve multiple countries and highlight Raytheon's role in defense technology.

Raytheon, an RTX business, has secured contracts worth $729 million for its drone-defense systems, LIDS and Coyote, from the U.S., Qatar, and Jordan. The company is investing to scale production and upgrade capabilities, including faster launch times and greater range. Tom Laliberty, president of Land and Air Defense Systems, highlighted the importance of these systems in countering evolving drone threats.

Deutsche Bank downgraded RTX from Buy to Hold, setting a $208 price target. RTX's Raytheon unit won a U.S. Navy contract for advanced radar development. RTX shares were at $186.66, up 0.37% on the day and 1.26% over a month.