We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
RTX's Unit Achieves Operational Readiness for GhostEye MR
Read MoreHide Full Article
RTX Corporation’s (RTX - Free Report) business unit, Raytheon, recently showcased the operational performance and readiness of the GhostEye MR radar for the National Advanced Surface to Air Missile System (“NASAMS”).
The operation was conducted at White Sands Missile Range in partnership with the United States Air Force Research Laboratory's Strategic Development Planning and Experimentation Office and Kongsberg Defence & Aerospace.
Significance of the Air & Missile Defense System
NASAMS is a highly adaptable, combat-proven medium-range air defense solution. GhostEye MR was integrated into NASAMS' Air Defense Console and the Battlespace Command and Control Center to test its proven capabilities.
GhostEye MR, a member of the GhostEye family of sensors, is an advanced medium-range air and missile defense radar. When integrated with NASAMS, the radar will expand its defended-area capabilities by providing higher range and altitude coverage.
Radar Market’s Prospects
Nations across the globe have been strengthening their surveillance systems to avoid attacks in the future. Consequently, it is reasonable to expect that the demand for an effective radar system, which boasts the features of next-generation technology-based warfare capabilities, will gain further momentum in the coming days due to the growing importance of radars in military surveillance.
Per the Allied Market Research release, the global military radar market will reach $25.1 billion by 2031, growing at a CAGR of 6.5% from 2022 to 2031. Such abounding market prospects should boost RTX’s growth opportunities, with its Raytheon unit delivering integrated solutions that span the entire air and missile defense segment.
Peer Moves
The growth prospects of the global radar market bode well for other defense primes that are engaged in this market. These are:
Northrop Grumman (NOC - Free Report) : the company’s radar solutions provide total surveillance for air and missile defense as well as air traffic control. Its diverse product portfolio includes a handful of radars like the F-35 fire control radar and Distributed Aperture System, the LONGBOW Fire Control Radar, the Scalable Agile Beam Radar, the APR-39 DV(2), the EV(2) Radar Warning Receiver programs and a few more.
NOC boasts a long-term (three- to five-year) earnings growth rate of 2.3%. The Zacks Consensus Estimate for its 2024 sales indicates an improvement of 5.2% from the previous year's figure.
Lockheed Martin (LMT - Free Report) : Lockheed’s portfolio of radars includes the AN/APY-9 radar, the IRST21 Sensos system, AN/TPQ-53 radar systems, SPY-7, the long-range discrimination radar and a few more. On Nov 16, 2023, Lockheed Martin’s Patriot Advanced Capability – 3 was integrated with the LTAMDS radar.
LMT boasts a long-term earnings growth rate of 8.6%. The Zacks Consensus Estimate for its 2024 sales indicates an improvement of 2.9% from the prior year's figure.
L3Harris Technologies (LHX - Free Report) : the company manufactures a handful of combat-proven radars like the SPS-48, land-based surveillance radars, the AN/APY-11 Multimode radar, the Tactical Air Surveillance radar, the AN/SPS-48G Long-range 3D surveillance radar and many more.
L3Harris boasts a long-term earnings growth rate of 3.6%. The Zacks Consensus Estimate for its 2024 sales indicates an improvement of 11.1% from the previous year's figure.
Price Performance
In the past three months, shares of RTX have rallied 17.4% compared with the industry’s 11.9% growth.
Image: Bigstock
RTX's Unit Achieves Operational Readiness for GhostEye MR
RTX Corporation’s (RTX - Free Report) business unit, Raytheon, recently showcased the operational performance and readiness of the GhostEye MR radar for the National Advanced Surface to Air Missile System (“NASAMS”).
The operation was conducted at White Sands Missile Range in partnership with the United States Air Force Research Laboratory's Strategic Development Planning and Experimentation Office and Kongsberg Defence & Aerospace.
Significance of the Air & Missile Defense System
NASAMS is a highly adaptable, combat-proven medium-range air defense solution. GhostEye MR was integrated into NASAMS' Air Defense Console and the Battlespace Command and Control Center to test its proven capabilities.
GhostEye MR, a member of the GhostEye family of sensors, is an advanced medium-range air and missile defense radar. When integrated with NASAMS, the radar will expand its defended-area capabilities by providing higher range and altitude coverage.
Radar Market’s Prospects
Nations across the globe have been strengthening their surveillance systems to avoid attacks in the future. Consequently, it is reasonable to expect that the demand for an effective radar system, which boasts the features of next-generation technology-based warfare capabilities, will gain further momentum in the coming days due to the growing importance of radars in military surveillance.
Per the Allied Market Research release, the global military radar market will reach $25.1 billion by 2031, growing at a CAGR of 6.5% from 2022 to 2031. Such abounding market prospects should boost RTX’s growth opportunities, with its Raytheon unit delivering integrated solutions that span the entire air and missile defense segment.
Peer Moves
The growth prospects of the global radar market bode well for other defense primes that are engaged in this market. These are:
Northrop Grumman (NOC - Free Report) : the company’s radar solutions provide total surveillance for air and missile defense as well as air traffic control. Its diverse product portfolio includes a handful of radars like the F-35 fire control radar and Distributed Aperture System, the LONGBOW Fire Control Radar, the Scalable Agile Beam Radar, the APR-39 DV(2), the EV(2) Radar Warning Receiver programs and a few more.
NOC boasts a long-term (three- to five-year) earnings growth rate of 2.3%. The Zacks Consensus Estimate for its 2024 sales indicates an improvement of 5.2% from the previous year's figure.
Lockheed Martin (LMT - Free Report) : Lockheed’s portfolio of radars includes the AN/APY-9 radar, the IRST21 Sensos system, AN/TPQ-53 radar systems, SPY-7, the long-range discrimination radar and a few more. On Nov 16, 2023, Lockheed Martin’s Patriot Advanced Capability – 3 was integrated with the LTAMDS radar.
LMT boasts a long-term earnings growth rate of 8.6%. The Zacks Consensus Estimate for its 2024 sales indicates an improvement of 2.9% from the prior year's figure.
L3Harris Technologies (LHX - Free Report) : the company manufactures a handful of combat-proven radars like the SPS-48, land-based surveillance radars, the AN/APY-11 Multimode radar, the Tactical Air Surveillance radar, the AN/SPS-48G Long-range 3D surveillance radar and many more.
L3Harris boasts a long-term earnings growth rate of 3.6%. The Zacks Consensus Estimate for its 2024 sales indicates an improvement of 11.1% from the previous year's figure.
Price Performance
In the past three months, shares of RTX have rallied 17.4% compared with the industry’s 11.9% growth.
Image Source: Zacks Investment Research
Zacks Rank
RTX currently has a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.