QUICK SPARK: RTX Just Received Its First US Patriot Order in 30 Years
RTX Corp (NYSE: RTX ) revealed an eye-catching milestone during its second-quarter earnings call: the company received its first domestic production order for GEM-T Patriot interceptors in more than 30 years. The order was part of more than $5 billion in Patriot-related bookings during the quarter, driven primarily by international customers. The announcement comes as demand for air and missile defense systems continues to accelerate worldwide. RTX said Raytheon booked more than $10 billion in international defense awards during the first half of the year—more than double last year’s level—with 48% of Raytheon’s backlog now coming from international customers. Management also pointed to growing U.S. demand, highlighting bipartisan support for higher defense spending and ongoing discussions to convert long-term framework agreements into production contracts. CEO Christopher...
RTX Corp (NYSE: RTX ) revealed an eye-catching milestone during its second-quarter earnings call: the company received its first domestic production order for GEM-T Patriot interceptors in more than 30 years.
The order was part of more than $5 billion in Patriot-related bookings during the quarter, driven primarily by international customers.
The announcement comes as demand for air and missile defense systems continues to accelerate worldwide.
RTX said Raytheon booked more than $10 billion in international defense awards during the first half of the year—more than double last year’s level—with 48% of Raytheon’s backlog now coming from international customers.
Management also pointed to growing U.S. demand, highlighting bipartisan support for higher defense spending and ongoing discussions to convert long-term framework agreements into production contracts.
CEO Christopher Calio said Patriot systems have continued to demonstrate their effectiveness “in some of the most contested environments,” reinforcing demand both at home and abroad.
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