NASA Faces Setback As RTX's Collins Aerospace Backs Out Of Spacesuit Deal [Yahoo! Finance]
RTX Corporation (RTX)
Company Research
Source: Yahoo! Finance
as NASA, to withdraw from its contract to develop new spacesuits for the International Space Station (ISS). The move marks a setback for NASA as it grapples with its aging spacewalking suits. The contract, part of a $3.5 billion agreement awarded in 2022, aimed to create new spacesuits for the ISS and future lunar missions. Collins initially received $97 million for the ISS suit development. Reuters highlights that Collins' involvement in the program has faced numerous challenges, leading to significant delays. The report adds, citing sources familiar with the matter, that discussions are underway to wind down the company's role. This development comes at a particularly challenging time for NASA, which has recently experienced a rare series of astronaut spacewalk cancellations due to issues with its current 40-year-old spacesuits, which Collins manages. “After a thorough evaluation, Collins Aerospace and NASA mutually agreed to descope Exploration Extravehicular Activity Ser
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Sec Filings
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- 6/20/24 - Form 11-K
- 5/31/24 - Form SD
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