RTX's Raytheon awarded $1.8 billion hardware production and sustainment contract for SPY-6 family of radars
Rhea-AI Summary
RTX (NYSE: RTX) announced that its Raytheon business received a $1.8 billion contract extension from the U.S. Navy for SPY-6 hardware production and sustainment, adding to the initial contract awarded in March 2022. Contract options could bring the total value to $3.3 billion.
SPY-6 is currently aboard two commissioned Navy ships and installed on 11 more under testing, and is expected to be deployed on 50+ ships over the next decade. Raytheon has invested over $800 million to modernize radar manufacturing and aims to double SPY-6 output by 2028, while expanding its engineering workforce in Andover to support the program.
Positive
- $1.8 billion SPY-6 contract extension from U.S. Navy
- Total SPY-6 contract value could reach $3.3 billion with options
- SPY-6 expected on 50+ U.S. Navy ships over next decade
- Over $800 million invested to modernize radar manufacturing facilities
- Plan to double SPY-6 radar output by 2028
- RTX reported more than $88 billion in 2025 sales
Negative
- More than $800 million committed to SPY-6 manufacturing upgrades
News Market Reaction – RTX
In the Jul 21 session, RTX declined 0.40%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jul 20 | engine demonstration | Positive | +0.5% | Demonstration test validated additively manufactured engine performance at Farnborough International Airshow. |
| Jul 20 | engine selection | Positive | +0.5% | Customer selected GTF engines for an undisclosed number of Airbus A320neo aircraft. |
| Jul 20 | sustainment contract | Positive | +0.5% | Nine-year contract covers overhaul of more than 750 PT6A-68 engines. |
| Jul 15 | engine selection | Positive | +0.5% | British Airways selected engines for 33 firm and 30 option aircraft. |
| Jul 15 | interceptor milestone | Positive | +1.3% | Technology demonstration achieved direct hits against Army-simulated aerial threats. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent RTX news events in the supplied history all had positive 24-hour reactions, aligning with favorable company announcements.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Production continues to ramp for
"This contract extension reflects the Navy's confidence in our ability to deliver advanced, reliable and scalable radar solutions," said Barbara Borgonovi, president of Naval Power at Raytheon. "Our continued investment and commitment to ramping production will ensure the fleet has the sensing advantage to stay ahead of evolving threats for decades to come."
SPY-6 is now aboard two commissioned
Raytheon's SPY-6 family of radars are built on more than a decade of design, testing and manufacturing experience and have been validated by successful performance at sea. The company has invested more than
Raytheon is significantly expanding its engineering workforce in
About Raytheon
Raytheon, an RTX business, is a leading provider of defense solutions to help the
About RTX
With more than 180,000 global employees, we push the limits of technology and science to redefine how we connect and protect our world. With industry-leading capabilities, we advance aviation, engineer integrated defense systems for operational success, and develop next-generation technology solutions and manufacturing to help global customers address their most critical challenges. The company, with 2025 sales of more than
For questions or to schedule an interview, please contact corporatepr@rtx.com.
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SOURCE RTX