Raytheon Tops Lockheed Martin for $10 Billion Cruise Missile Contract [The Motley Fool]
RTX Corporation (RTX)
Company Research
Source: The Motley Fool
On April 7, the U.S. Air Force ended the competition to develop a new Long-Range Standoff Weapon (LRSO) nearly two years early, declaringRaytheon TechnologiesNYSE:RTXIn August 07, the Air Force awarded what was then Raytheon andLockheed MartinNYSE:LMTThe award is a nice prize for Raytheon Technologies, which was formed just this month whendefense contractor Raytheon merged with the aerospace arm of United TechnologiesImage source: Getty Images.The detailsThe LRSO program was launched to replace the AGM-86, a subsonic air-launched cruise missile developed byBoeingThe exact program size is currently unknown, but the Air Force is expected to spend $ billion on research and development of the LRSO between now and 0, followed by a bulk order of as many as ,000 missiles. If the Pentagon eventually buys a conventional, non-nuclear version of the missile as well, as has been discussed, the program size could grow much larger.The LSRO is one of the premier missile contracts out for bid, and it
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RTX
Earnings
- 10/22/24 - Beat
RTX
Sec Filings
- 10/22/24 - Form 10-Q
- 10/22/24 - Form 8-K
- 10/16/24 - Form 8-K
- RTX's page on the SEC website