Raytheon Wins $729M Counter-Drone Contracts for U.S., Qatar, Jordan
RTX sits 20% above its 52-week low of $155.64.
Summary
Raytheon, an RTX business, secured $729 million in counter-drone contracts for the U.S., Qatar, and Jordan, marking the first international sales of KuRFS radar and Coyote interceptor technology. The U.S. counterparty is the U.S. Army, and the contracts cover components of the Low, Slow, Small Unmanned Aircraft Integrated Defeat System (LIDS). Systems will be deployed in fixed-site and mobile configurations to protect against drones, including coordinated swarms. KuRFS radar provides 360-degree surveillance to identify and track incoming threats, while Coyote interceptors use kinetic and non-kinetic methods to neutralize drones. RTX did not disclose how the $729 million will be distributed among the three customers. This adds to a string of major defense awards for RTX this year, including a $22.9B Tomahawk contract in August and a $24.4B SM-6 award in October. The new work strengthens RTX's position in the growing counter-UAS market. No delivery timeline or margin details were disclosed.
Updated with a Seeking Alpha report · What changed
Updates
· Seeking Alpha — The contracts mark the first international sales of KuRFS radar and Coyote interceptor technology.
- Contract Details
- The U.S. counterparty is the U.S. Army.
- The contracts cover components of the Low, Slow, Small Unmanned Aircraft Integrated Defeat System (LIDS).
- RTX did not disclose how the $729 million will be distributed among the three customers.
- Deployment — Systems will be deployed in fixed-site and mobile configurations to protect against drones, including coordinated swarms.
- Technology — KuRFS radar provides 360-degree surveillance to identify and track incoming threats. Coyote interceptors use kinetic and non-kinetic methods to neutralize drones.
All 7 details
- The U.S. counterparty is the U.S. Army.
- The contracts cover components of the Low, Slow, Small Unmanned Aircraft Integrated Defeat System (LIDS).
- Systems will be deployed in fixed-site and mobile configurations.
- Systems will protect against drones, including coordinated swarms.
- RTX did not disclose how the $729 million will be distributed among the three customers.
- KuRFS radar provides 360-degree surveillance to identify and track incoming threats.
- Coyote interceptors use kinetic and non-kinetic methods to neutralize drones.
- Contract Details
At the time of this announcement, RTX was trading at $186.40 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $251.6B. The 52-week trading range was $155.64 to $226.88. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: PR Newswire.