RTX Begins Global Rollout Of Groundbreaking Low Earth Orbit Observation System

RTX Corporation RTX has rolled out its Low Earth Orbit Optical Camera Installation, known as LOCI, crafted and engineered in the U.K. 

The launch was announced by Raytheon NORSS – Raytheon's UK-based space domain awareness specialist. 

This ground-based space domain awareness sensor system is being deployed in the Sierra Mountains, California, in the U.S. It has been made to handle the challenges of low-Earth orbit optical observation. 

LOCI provides critical observation data on objects in low-Earth orbit, including space debris, defense assets, and commercial spacecraft. 

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"By deploying LOCI, we are expanding our existing sensor network internationally to improve our coverage and, ultimately, our awareness of what is occurring on orbit," explained Sean Goldsbrough, head of Raytheon NORSS.

RTX shares had an unfavorable run on the bourses yesterday (closed lower by 7.88% on Monday to $76.90) after it provided an update on the impact to the Pratt & Whitney GTF fleet (PW1100 GTF engines, which power the A320neo) arising from the previously disclosed rare condition in powder metal used to manufacture certain engine parts.

RTX's pre-tax operating profit impact is estimated to be between $3 billion and $3.5 billion over the next several years, inclusive of an approximately $3 billion pre-tax charge in Q3, after partners' share of charges.

About 600 to 700 engines will be removed for shop visits between 2023 and 2026 beyond Pratt & Whitney's shop visit forecast entering 2023.

Read More: RTX To Incur $3B Pre-Tax Charge In Q3 Due To Pratt & Whitney Engine Problem; Stock Slides

Price Action: RTX shares are trading lower by 2.04% to $75.33 premarket on the last check Tuesday.