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RTX Secures a Contract to Support Stinger Weapon Systems
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RTX Corporation’s (RTX - Free Report) business unit, Raytheon Missiles Defense, recently won a $46.8 million contract to provide engineering and technical services for supporting the Stinger Weapon System. The award has been offered by the Army Contracting Command, Redstone Arsenal, AL.
More About RTX’s Stinger Missile
The Stinger missile is a lightweight, self-contained air defense system that can be quickly deployed by ground forces. The weapon is currently deployed in 19 countries, which reflects the solid demand it enjoys in the missile market.
Its Stinger-Reprogrammable Microprocessor version missile boasts a dependability and training test success rate of more than 90%. The weapon's supersonic speed, agility, and extremely precise guidance and control system offer it an operational advantage against cruise missiles and all types of aircraft.
What’s Favoring RTX Stock?
Rapidly increasing geopolitical tensions worldwide, along with heightened regional conflicts in different parts of the globe, like the Middle East and the Russian invasion of Ukraine, have prompted nations to bolster their defense capabilities significantly in recent times. Since missiles constitute a large share of a nation’s defense arsenals, countries are investing heftily these days in advanced missile systems for deterrence and defense. This has been boosting the demand for technologically advanced missile systems.
To this end, the Mordor Intelligence firm predicts the global market for missiles and missile defense systems to witness a CAGR of 5% between 2024 and 2029. This should benefit RTX, which has a handful of combat-proven missiles in its product portfolio, like the TOW missile, Guidance Enhanced Missile, the National Advanced Surface-to-Air Missile System, Tomahawk, Standard Missile 2 and a few more, in addition to the Stinger missile.
Prospects of RTX’s Peers
As global threats rise, military contractors that are projected to gain from the growth prospects presented by the missiles and missile defense system market are as follows:
The Boeing Company (BA - Free Report) : For almost 25 years, the company has been providing air and missile defense systems to the United States, its allies and international partners. Its offerings include the Avenger Air Defense System, Aegis Ballistic Missile Defense and Ground-Based Midcourse Defense.
Boeing boasts a long-term (three to five years) earnings growth rate of 21.3%. The Zacks Consensus Estimate for BA’s 2025 sales implies growth of 20.5% from the 2024 estimated figure.
Lockheed Martin (LMT - Free Report) : The company’s Missiles and Fire Control business unit develops, manufactures and supports advanced missiles and rockets. Some of its renowned products are the PAC-3 family of missiles, M270, RRPR, THHAD and a few more.
Lockheed has a long-term earnings growth rate of 4.7%. The Zacks Consensus Estimate for LMT’s 2024 sales calls for growth of 5.3% from the prior-year reported figure.
Northrop Grumman (NOC - Free Report) : The company provides high-speed, long-range strike weapons like the AARGM-ER, which is a supersonic, air-launched tactical missile system. It also develops and manufactures warheads, fuses, advanced high-speed propulsion systems and other missile components.
Northrop has a long-term earnings growth rate of 8.7%. The Zacks Consensus Estimate for NOC’s 2024 sales suggests growth of 5.4% from the prior-year reported figure.
RTX Stock Price Movement
In the past six months, RTX shares have risen 24.1% against the industry’s decline of 0.4%.
Image: Bigstock
RTX Secures a Contract to Support Stinger Weapon Systems
RTX Corporation’s (RTX - Free Report) business unit, Raytheon Missiles Defense, recently won a $46.8 million contract to provide engineering and technical services for supporting the Stinger Weapon System. The award has been offered by the Army Contracting Command, Redstone Arsenal, AL.
More About RTX’s Stinger Missile
The Stinger missile is a lightweight, self-contained air defense system that can be quickly deployed by ground forces. The weapon is currently deployed in 19 countries, which reflects the solid demand it enjoys in the missile market.
Its Stinger-Reprogrammable Microprocessor version missile boasts a dependability and training test success rate of more than 90%. The weapon's supersonic speed, agility, and extremely precise guidance and control system offer it an operational advantage against cruise missiles and all types of aircraft.
What’s Favoring RTX Stock?
Rapidly increasing geopolitical tensions worldwide, along with heightened regional conflicts in different parts of the globe, like the Middle East and the Russian invasion of Ukraine, have prompted nations to bolster their defense capabilities significantly in recent times. Since missiles constitute a large share of a nation’s defense arsenals, countries are investing heftily these days in advanced missile systems for deterrence and defense. This has been boosting the demand for technologically advanced missile systems.
To this end, the Mordor Intelligence firm predicts the global market for missiles and missile defense systems to witness a CAGR of 5% between 2024 and 2029. This should benefit RTX, which has a handful of combat-proven missiles in its product portfolio, like the TOW missile, Guidance Enhanced Missile, the National Advanced Surface-to-Air Missile System, Tomahawk, Standard Missile 2 and a few more, in addition to the Stinger missile.
Prospects of RTX’s Peers
As global threats rise, military contractors that are projected to gain from the growth prospects presented by the missiles and missile defense system market are as follows:
The Boeing Company (BA - Free Report) : For almost 25 years, the company has been providing air and missile defense systems to the United States, its allies and international partners. Its offerings include the Avenger Air Defense System, Aegis Ballistic Missile Defense and Ground-Based Midcourse Defense.
Boeing boasts a long-term (three to five years) earnings growth rate of 21.3%. The Zacks Consensus Estimate for BA’s 2025 sales implies growth of 20.5% from the 2024 estimated figure.
Lockheed Martin (LMT - Free Report) : The company’s Missiles and Fire Control business unit develops, manufactures and supports advanced missiles and rockets. Some of its renowned products are the PAC-3 family of missiles, M270, RRPR, THHAD and a few more.
Lockheed has a long-term earnings growth rate of 4.7%. The Zacks Consensus Estimate for LMT’s 2024 sales calls for growth of 5.3% from the prior-year reported figure.
Northrop Grumman (NOC - Free Report) : The company provides high-speed, long-range strike weapons like the AARGM-ER, which is a supersonic, air-launched tactical missile system. It also develops and manufactures warheads, fuses, advanced high-speed propulsion systems and other missile components.
Northrop has a long-term earnings growth rate of 8.7%. The Zacks Consensus Estimate for NOC’s 2024 sales suggests growth of 5.4% from the prior-year reported figure.
RTX Stock Price Movement
In the past six months, RTX shares have risen 24.1% against the industry’s decline of 0.4%.
Image Source: Zacks Investment Research
RTX Zacks Rank
RTX currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.