Raytheon, a division of RTX, has secured a $580 million contract from the U.S. Navy to develop the Next Generation Jammer Mid-Band (NGJ-MB) system.
Contract Details
The contract involves the production of additional pod shipsets, spares, and specialized support equipment for the NGJ-MB system, which will be deployed on EA-18G Growler aircraft. The work will be conducted across several locations in the United States, including Mississippi, Texas, California, and Massachusetts, with completion expected by 2028.
International Collaboration
The NGJ-MB system is being developed not only for the U.S. Navy but also in cooperation with the Royal Australian Air Force, highlighting the importance of international partnerships in modern defense strategies.
Market Reaction to the Contract
Following the announcement of the contract, RTX's stock showed a positive trend, opening at $135.88 and reaching a peak of $137.71. The current stock price stands at $137.045.
The $580 million contract awarded to Raytheon by the U.S. Navy represents a significant step in the advancement of electronic warfare systems and emphasizes the importance of international collaboration in this field.
