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RTX's Arm to Supply Display Systems to Support Typhoon Jets
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RTX Corporation’s (RTX - Free Report) business, Collins Aerospace, has been selected by BAE Systems PLC (BAESY - Free Report) for supplying its Large Area Display technology, which will be integrated into the Eurofighter Typhoon aircraft’s cockpit. The collaboration is expected to bolster RTX’s footprint in the combat aviation market.
Benefits of the Collaboration
RTX’s ultra-high-definition Large Area Display (LAD) features a wide, resistive multi-touch surface, which is designed to enable pilots to better access critical flight information and improve overall situational awareness. Its integration in a fighter jet will enable swift and precise decision-making by the pilots as it uses real-time data feeds from radar, targeting systems and threat detection.
RTX’s LAD, coupled with BAE Systems’ advanced radar and weapons technology in Typhoon jets, is expected to revolutionize combat aviation.
In fact, RTX already enjoys a long-standing relationship with BAE Systems, which includes successful collaboration on the Tornado, Eurofighter Typhoon and Hawk aircraft programs.
As BAE Systems aims at investing heftily to bolster its combat air portfolio, including the Eurofighter Typhoon, through Project Medulla, we may expect RTX to win more contracts for delivering its state-of-the-art avionics to BAE System. These should boost RTX’s revenue generation prospects.
Prospects in the Avionics Market
Amid the widespread geopolitical tensions globally, nations are rapidly augmenting their defense purchase to strengthen their warfare capabilities. This has increased demand for fighter jets, which form an integral part of a country’s defense products. As demand for combat aircraft is surging, the need for advanced avionics for them is also rising significantly.
Per the GlobeNewswire’s report, the global avionics market size is anticipated to expand from $90.32 billion in 2023 to $159.35 billion by 2030 at a CAGR of 8.45%.
Such abounding market prospects should boost RTX’s growth opportunities, with its Collins Aerospace being the supplier of around 50% of the world's avionics displays. It has more than 30 years of experience in producing high-performance display products for fighter aircraft as well as trainers, bombers, helicopters and commercial aircraft worldwide.
Price Performance
In the past year, shares of RTX have lost 11.7% against the industry’s 12% increase.
TXT’s long-term earnings growth is pegged at 11.7%. The Zacks Consensus Estimate for 2023 sales indicates an improvement of 7.7% from that reported in 2022.
SPCE’s long-term earnings growth is pegged at 40.9%. The Zacks Consensus Estimate for 2023 sales indicates an improvement of 118.6% from that reported in 2022.
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RTX's Arm to Supply Display Systems to Support Typhoon Jets
RTX Corporation’s (RTX - Free Report) business, Collins Aerospace, has been selected by BAE Systems PLC (BAESY - Free Report) for supplying its Large Area Display technology, which will be integrated into the Eurofighter Typhoon aircraft’s cockpit. The collaboration is expected to bolster RTX’s footprint in the combat aviation market.
Benefits of the Collaboration
RTX’s ultra-high-definition Large Area Display (LAD) features a wide, resistive multi-touch surface, which is designed to enable pilots to better access critical flight information and improve overall situational awareness. Its integration in a fighter jet will enable swift and precise decision-making by the pilots as it uses real-time data feeds from radar, targeting systems and threat detection.
RTX’s LAD, coupled with BAE Systems’ advanced radar and weapons technology in Typhoon jets, is expected to revolutionize combat aviation.
In fact, RTX already enjoys a long-standing relationship with BAE Systems, which includes successful collaboration on the Tornado, Eurofighter Typhoon and Hawk aircraft programs.
As BAE Systems aims at investing heftily to bolster its combat air portfolio, including the Eurofighter Typhoon, through Project Medulla, we may expect RTX to win more contracts for delivering its state-of-the-art avionics to BAE System. These should boost RTX’s revenue generation prospects.
Prospects in the Avionics Market
Amid the widespread geopolitical tensions globally, nations are rapidly augmenting their defense purchase to strengthen their warfare capabilities. This has increased demand for fighter jets, which form an integral part of a country’s defense products. As demand for combat aircraft is surging, the need for advanced avionics for them is also rising significantly.
Per the GlobeNewswire’s report, the global avionics market size is anticipated to expand from $90.32 billion in 2023 to $159.35 billion by 2030 at a CAGR of 8.45%.
Such abounding market prospects should boost RTX’s growth opportunities, with its Collins Aerospace being the supplier of around 50% of the world's avionics displays. It has more than 30 years of experience in producing high-performance display products for fighter aircraft as well as trainers, bombers, helicopters and commercial aircraft worldwide.
Price Performance
In the past year, shares of RTX have lost 11.7% against the industry’s 12% increase.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
RTX currently has a Zacks Rank #3 (Hold).
A few better-ranked stocks in the same industry are Textron Inc. (TXT - Free Report) and Virgin Galactic Holdings Inc. (SPCE - Free Report) , each carrying a Zacks Rank #2 (Buy) at the moment. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
TXT’s long-term earnings growth is pegged at 11.7%. The Zacks Consensus Estimate for 2023 sales indicates an improvement of 7.7% from that reported in 2022.
SPCE’s long-term earnings growth is pegged at 40.9%. The Zacks Consensus Estimate for 2023 sales indicates an improvement of 118.6% from that reported in 2022.