RTX's Raytheon Awards Contract To Spain's Sener For A Quantity Of Up To 1,000 Missiles For A Coalition Of Nations
Portfolio Pulse from Benzinga Newsdesk
RTX's Raytheon has awarded a contract to Spain's Sener for the development and production of up to 1,000 GEM-T missiles for a NATO coalition including Germany, the Netherlands, Romania, and Spain. Sener will contribute to the missile's electro-mechanical control section, enhancing Raytheon's GEM-T missile production capacity in Europe. This collaboration supports NATO and European Patriot allies, with Sener's expertise in missile actuation and control systems playing a crucial role.
April 29, 2024 | 2:03 pm
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RTX's Raytheon division's partnership with Sener for GEM-T missile production could enhance its position in European defense markets and potentially increase future revenue streams from NATO contracts.
The contract with Sener for up to 1,000 GEM-T missiles not only expands RTX's production capabilities in Europe but also strengthens its strategic position within NATO defense procurement. This could lead to increased demand for RTX's defense products in Europe, positively impacting its stock in the short term due to the potential for increased revenue and enhanced market position.
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