RTX's Raytheon Pockets $946M Patriot Defense Deal: Boosting Romania's Security Arsenal

RTX Corporation RTX shares are trading relatively flat on Friday.

Raytheon, a key business unit of RTX, was awarded a $946 million contract to provide Romania with additional Patriot air and missile defense systems.

The deal includes a range of fire units, radars, control stations, and missiles, enhancing Romania’s defense capabilities.

Pete Bata, senior vice president of Global Patriot at Raytheon, emphasized the company’s commitment to delivering advanced, integrated air and missile defense systems to safeguard Romania’s citizens and critical infrastructure.

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The Patriot system, widely recognized as the world’s only combat-proven air and missile defense system, continues to be a cornerstone for 19 countries, offering protection against a wide range of aerial threats, including long-range cruise missiles and ballistic missiles.

Last month, Raytheon secured a $590 million follow-on production contract from the U.S. Navy for the Next Generation Jammer Mid-Band (NGJ-MB) system.

The NGJ-MB is a cutting-edge electronic warfare system developed in collaboration with the Royal Australian Air Force. The contract’s work will span through 2028 and take place across multiple U.S. locations.

Price Action: RTX stock is up 0.16% at $116.19 at last check Friday.

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