RTX Secures $1.8 Billion Navy Radar Deal With $3.3 Billion Upside

RTX's Raytheon business secured a $1.8 billion contract extension from the U.S. Navy.

The agreement covers hardware production and sustainment for the SPY-6 radar family.

This deal builds upon an initial contract awarded in March 2022.

Total contract value could reach $3.3 billion if the Navy exercises all options.

The SPY-6 is currently the Navy's most advanced maritime radar system.

The technology is already undergoing testing on several U.S. Navy vessels.

The Navy plans to deploy SPY-6 systems on more than 50 ships over the next decade.