RTX's Raytheon signs MOU with Diehl Defence for Stinger missile co-production
Rhea-AI Summary
RTX (NYSE: RTX) subsidiary Raytheon has signed a memorandum of understanding with Diehl Defence for co-production of key Stinger missile components in Europe. The agreement aims to extend Stinger missile production at Diehl Defence amid historically high demand for the weapon system.
The Stinger missile, currently used by 24 countries including 10 NATO members, is a lightweight, combat-proven air defense system designed to counter cruise missiles and aircraft threats. Diehl Defence is exploring options to increase production capacity across various locations to meet growing demand.
Positive
- Partnership expands global production capacity for Stinger missiles
- Strong existing market presence with 24 countries including 10 NATO members
- Historically high demand for the product
- Leverages Diehl Defence's proven capabilities and expertise
Negative
- None.
News Market Reaction
On the day this news was published, RTX declined 1.18%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Production in
"Stinger is the surface-to-air missile of choice for 24 countries, including
The Stinger missile is a lightweight, combat-proven and self-contained air defense system deployed by ground troops against cruise missiles and aircraft.
"For Diehl Defence, relaunching production for Stinger missiles builds on our proven capabilities and expertise in that product range and fits seamlessly in our strong standing on the market for ground-based air defence systems," said Helmut Rauch, Diehl Defence CEO.
Diehl Defence is assessing various options for increasing production capacity, both at existing sites and other locations.
Raytheon has produced and supported upgrades over the life of the program resulting in a highly accurate guidance and control system that provides an operational edge against targets.
About Raytheon
Raytheon, an RTX business, is a leading provider of defense solutions to help the
About RTX
RTX is the world's largest aerospace and defense company. With more than 185,000 global employees, we push the limits of technology and science to redefine how we connect and protect our world. Through industry-leading businesses – Collins Aerospace, Pratt & Whitney and Raytheon – we are advancing aviation, engineering integrated defense systems for operational success, and developing next-generation technology solutions and manufacturing to help global customers address their most critical challenges. The company, with 2024 sales of more than
For questions or to schedule an interview, please contact corporatepr@rtx.com
About Diehl Defence
As a reliable partner of the German and international armed forces, Diehl Defence is a leading system house for air defence systems. In addition to systems for ground-based air defence, the product portfolio of the company headquartered in Überlingen (
Point of contact:
David Voskuhl, Vice President Communications & PR, +49 7551 89-6955, pr@diehl-defence.com, www.diehl.com/defence
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SOURCE RTX