RTX Wins $1.3B Contract For F135 Engine Upgrade: Details
On Monday, RTX Corporation‘s (NYSE:RTX) business, Pratt & Whitney, won a contract worth up to $1.3 billion to advance the F135 Engine Core Upgrade (ECU).
The contract is expected to boost engine durability and enhance power and cooling for Block 4 and future F-35 capabilities.
Jill Albertelli, president of Pratt & Whitney’s Military Engines business, said, “It allows us to continue work in the risk reduction phase with a fully staffed team focused on design maturation, aircraft integration, and mobilizing the supply base to prepare for production.”
Jeff Shockey, senior vice president of RTX Global Government Relations, stated, “Their steadfast commitment to the F135 ensures it will deliver critical capabilities for decades to come.”
To date, Pratt & Whitney has delivered over 1,200 F135 engines, accumulating more than 900,000 flight hours.
The F135 ECU will be integrated into new F-35s during production or retrofitted at global F135 depot sustainment facilities, making it accessible to all F-35 operators.
Apart from this, RTX’s Raytheon delivered its first sensor payload to Lockheed Martin Corporation (NYSE:LMT), ensuring the U.S. Space Force’s Next-Generation Overhead Persistent Infrared (Next-Gen OPIR) Geosynchronous Earth Orbit (GEO) Block 0 missile warning satellite remains on schedule for its initial launch in 2025.
Investors can gain exposure to the stock via iShares U.S. Aerospace & Defense ETF (BATS:ITA) and First Trust Exchange-Traded Fund First Trust Indxx Aerospace & Defense ETF (NYSE:MISL).
Price Action: RTX shares are up 0.12% at $121.16 premarket at the last check Tuesday.
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This article RTX Wins $1.3B Contract For F135 Engine Upgrade: Details originally appeared on Benzinga.com
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