RTX's Raytheon receives major order for SharpSight radars from Blue Raven

Raytheon (NYSE: RTX) has been awarded a contract by Blue Raven to produce 120 SharpSight radars, the largest single order to date for the system.

Rhea-AI Summary

Raytheon (NYSE: RTX) has been awarded a contract by Blue Raven to produce 120 SharpSight radars, the largest single order to date for the system. Raytheon will produce and sustain the radars while Blue Raven handles global resale and distribution.

Raytheon plans to increase production capacity and build systems in bulk to shorten lead times and expand global availability for multi-domain surveillance missions.

Positive

• Confirmed order for 120 SharpSight radars
• Blue Raven named as global reseller and distributor
• Raytheon increasing production capacity to shorten lead times
• Focus on bulk build to enable larger monthly output

Negative

• Contract value not disclosed
• No quantified timeline or delivery schedule provided

Argus May 6 session

+2.24% close to close Open Argus

Details

News Market Reaction – RTX

In the May 6 session, RTX gained 2.24%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement highlights a significant operational win, with Raytheon set to produce 120 SharpSi...

Analysis

This announcement highlights a significant operational win, with Raytheon set to produce 120 SharpSight radars in its largest order to date, expanding access to multi-domain surveillance. It follows a series of recent contract and recognition milestones and sits against a backdrop of substantial R&D spending of over $7 billion annually. RTX also maintains an effective S-3ASR shelf, so future offerings would be detailed via prospectus supplements. Key metrics to watch include follow-on SharpSight orders and broader defense program traction.

Key Figures

SharpSight radars ordered: 120 units Quarterly dividend: $0.73 per share Dividend increase: 7.4% +5 more

SharpSight radars ordered

120 units

Largest single order to date under Blue Raven contract

Quarterly dividend

$0.73 per share

Board-approved cash dividend payable June 11, 2026

Dividend increase

7.4%

Increase vs. prior quarterly dividend

R&D investment

Over $7 billion annually

Company- and customer-funded R&D spending reported by RTX

Patent portfolio

More than 60,000 patents

Global portfolio across advanced aerospace and defense technologies

Shares outstanding

1,345,974,220 shares

Common stock outstanding as of March 3, 2026 record date

Shares represented at meeting

1,194,489,831 shares

Quorum present or represented at 2026 Annual Meeting

Phantom unit reference price

$176.07 per unit

Valuation used for certain director phantom stock grants

Historical Context

5 past events · Latest: Apr 30

5 events

1. Apr 30

   Dividend increase

   24h Move

   -1.2%

   Board approved higher quarterly cash dividend with long payout history.

2. Apr 30

   Sector commentary

   24h Move

   +1.9%

   Article on rare earth supply risks focused on BA and defense sector.

3. Apr 29

   Innovation recognition

   24h Move

   -1.6%

   RTX named top aerospace and defense innovator across major patent rankings.

4. Apr 28

   Defense contract

   24h Move

   +1.3%

   Raytheon delivered second missile-warning sensor for U.S. Space Force program.

5. Apr 28

   Supplier award

   24h Move

   +1.3%

   Pratt & Whitney recognized as Embraer’s Best Supplier for collaboration.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

multi-domain surveillance radar, phantom stock units, deferred stock unit plan, junior subordinated debt, +4 more

8 terms

multi-domain surveillance radar technical

"SharpSight is a platform-agnostic, multi-domain surveillance radar designed for both manned"

A multi-domain surveillance radar is a sensor system designed to detect and track objects across multiple environments—such as air, sea and ground—or across different frequency bands, and to share that information with other systems in real time. For investors it matters because these radars are core components of modern defense and infrastructure networks; they can create long-term sales, service and upgrade opportunities and act as a competitive differentiator for companies that deliver more accurate, wide-area situational awareness, much like a high-tech lighthouse that watches roads, rivers and skies at once.

phantom stock units financial

"received a grant of 1,175.6688 phantom stock units as part of his annual"

Phantom stock units are company promises that pay a cash or stock-equivalent award tied to the firm’s share price or value growth, but they do not issue actual shares. Think of them as a bonus check that moves with the stock like a mirror rather than handing over an ownership slice. Investors care because these awards can affect a company’s future cash obligations, executive incentives and reported expenses without causing share dilution.

deferred stock unit plan financial

"as part of his annual non-employee director compensation under the company’s deferred stock unit plan"

A deferred stock unit plan grants employees or executives hypothetical share units that convert into actual shares or cash at a future date, often after meeting conditions like continued employment or retirement. It matters to investors because it ties pay to long-term performance and creates a future claim on the company’s stock or cash, which can dilute existing shareholders or signal management’s confidence in future value — like a delayed bonus paid in ownership.

junior subordinated debt financial

"including unsubordinated and junior subordinated debt, various warrant types, common stock"

A type of long-term loan a company issues that ranks below other debts for repayment, so holders get paid only after higher-priority creditors if the company hits financial trouble. It usually pays a higher interest rate to compensate for greater risk and can behave more like a mix of debt and equity, so investors treat it as a riskier claim that can offer higher yield but greater chance of losses in bankruptcy — like holding a back-row ticket that costs less but gets you in only if earlier ticket-holders are satisfied.

warrants financial

"including unsubordinated and junior subordinated debt, various warrant types, common stock"

Warrants are special documents that give you the right to buy a company's stock at a set price before a certain date. They are often used as a way for companies to attract investors or raise money, and their value can increase if the company's stock price goes up.

View in glossary

sale-leaseback transactions financial

"limitations on liens and sale-leaseback transactions tied to consolidated net tangible assets"

A sale-leaseback transaction is when an owner sells a property or asset and immediately rents it back from the buyer, like selling your house and signing a lease to keep living in it. For investors, it matters because the seller converts a fixed asset into cash while taking on a new rent expense, which can boost short-term liquidity but change long-term earnings, debt levels and risk profiles that affect valuation and creditworthiness.

book-entry issuance technical

"and book-entry issuance via DTC. The filing also contains business descriptions"

An electronic method of issuing and holding securities where ownership is recorded electronically in centralized accounts instead of on paper certificates. Think of it like keeping money in a bank account rather than holding cash: transfers, trades and settlements happen faster, with less risk of loss or forgery, which improves liquidity, lowers administrative costs and makes it easier for investors and brokers to track and settle positions.

overhead persistent infrared technical

"Next-Generation Overhead Persistent Infrared (Next-Gen OPIR) GEO Block 0 program"

Overhead persistent infrared is a system of satellites or high‑altitude sensors that continuously scan large areas of Earth in the infrared (heat) band to detect hot objects and temperature changes day or night, like a night‑vision camera that never blinks. For investors it matters because these sensors enable missile warning, wildfire and disaster detection, and ongoing surveillance—functions that drive defense and space contracts, insurance risk models and commercial monitoring services, so changes in deployment or technology can affect company revenue and valuations.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Largest order to date expands global access to advanced multi-domain surveillance 

MCKINNEY, Texas, May 6, 2026 /PRNewswire/ -- Raytheon, an RTX (NYSE: RTX) business, has been awarded a contract from Blue Raven to produce 120 SharpSight™ radars, marking the largest single order to date for the new system and a key step in expanding its availability to customers worldwide. 

SharpSight is a platform-agnostic, multi-domain surveillance radar designed for both manned and unmanned platforms, enabling critical missions such as anti-surface warfare, border protection, coastal monitoring, search and rescue, and long-range surveillance. 

Under the contract, Raytheon will produce and sustain the radar, while Blue Raven, formerly Crestwood Technology Group, focuses on global resale and distribution. Together, the companies will provide operators with faster, more affordable access to advanced surveillance capability in a highly competitive international market. 

"This contract is a clear signal of strong global demand for SharpSight and the advanced surveillance capabilities it brings to the fight," said Dan Theisen, president of Advanced Products and Solutions at Raytheon. "By partnering with Blue Raven, we're making it easier and more affordable for customers to field this capability at the scale that fits their mission, whether that's a small fleet or a larger enterprise deployment." 

To support anticipated growing demand, Raytheon is increasing production capacity and building radar systems in bulk to enable larger monthly output and reduce contract to delivery timelines. These initiatives align with the company's broader focus on accelerating production, shortening lead times, and bringing critical capabilities to customers faster and more affordably. 

"We're excited to partner with Raytheon on SharpSight, to grow its market across a broader range of platforms, fleets and mission profiles," said Paul Elefonte, Chief Growth Officer at Blue Raven. "This collaboration will help improve accessibility, reduce lead times and maintain price stability, creating a stronger path to field this advanced capability at scale."

About Raytheon
Raytheon, an RTX business, is a leading provider of defense solutions to help the U.S. government, our allies and partners defend their national sovereignty and ensure their security. For more than 100 years, Raytheon has developed new technologies and enhanced existing capabilities in integrated air and missile defense, smart weapons, missiles, advanced sensors and radars, interceptors, space-based systems, hypersonics and missile defense across land, air, sea and space.

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 $88 billion, is headquartered in Arlington, Virginia.

For questions or to schedule an interview, please contact corporatepr@rtx.com.

 

View original content:https://www.prnewswire.com/news-releases/rtxs-raytheon-receives-major-order-for-sharpsight-radars-from-blue-raven-302763204.html

SOURCE RTX

FAQ

What did RTX announce about the SharpSight radar order on May 6, 2026?

They announced a contract to produce 120 SharpSight radars, the largest single order to date. According to the company, Raytheon will produce and sustain the radars while Blue Raven handles global resale and distribution.

How will the RTX and Blue Raven partnership affect SharpSight availability?

It aims to expand global access by pairing production with distribution. According to the company, Raytheon will boost production capacity and Blue Raven will manage global resale to reduce lead times and improve affordability.

Will the RTX order for 120 SharpSight radars change production timelines?

Raytheon says it will increase capacity and build systems in bulk to shorten lead times. According to the company, these steps are intended to enable larger monthly output and faster contract-to-delivery timelines.

Does the RTX press release disclose the dollar value of the Blue Raven contract?

No dollar value was disclosed in the announcement; only the quantity of 120 radars is specified. According to the company, contract terms focus on production, sustainment, and distribution rather than a published contract price.

What missions is the RTX SharpSight radar designed to support?

SharpSight supports multi-domain missions like anti-surface warfare and coastal monitoring. According to the company, the platform-agnostic radar suits manned and unmanned platforms for border protection, search and rescue, and long-range surveillance.