RTX Secures $95M Contract to Deliver Navigation Systems

RTX Corporation’s RTX business segment, Collins Aerospace, recently won its fourth order, worth $95 million, for the Mounted Assured Positioning, Navigation (PNT) and Timing Generation II systems (MAPS Gen II).To increase resilience during multi-domain operations, the U.S. Army and Marine Corps will deploy jam-and-spoof-resistant navigation solution hardware on combat ground vehicles.What’s Lies Ahead for RTX? Rising geopolitical tensions, with threats continuing to evolve and advance, have led to a demand for improved navigation solutions for air, land and marine operations. Over the last decade, the use of cutting-edge technology in navigation systems has rapidly evolved due to the advancement of technology, and continuous research and development work in this area.To this end, the Mordor Intelligence firm predicts the Military Navigation Systems market will witness a CAGR of 5.4% during the 2024-2029 period. This reflects expanding market opportunities for companies like RTX, which enjoy a well-established position in the navigation systems market.Its MAPS Gen II provides crucial mission data while improving electronic attack resistance. This vehicle-mounted system combines sensor data, including satellite navigation information, terrain mapping, and secure positioning, navigation and timing data, for crewed and uncrewed ground vehicles.RTX has a diverse portfolio of other navigation systems, including ArtemisPro-M (M-Code GPS) Military Underwater Navigation System, NavHub GNSS and NavHub-100. This tends to benefit RTX as its expertise in manufacturing navigation systems for military missions has been offering it the privilege of winning repeated contracts. The latest contract win is a bright example of that.Opportunities for Other Defense Stocks Other defense contractors that are expected to reap the benefits of the expanding navigation systems market are listed below:L3Harris Technologies LHX: The company has more than 25 years of experience providing navigation systems for military aircraft and helicopters. Its navigation solutions portfolio, including TruTrak and TruNav, provides low-risk, cost-effective, modernized GPS and enhanced anti-spoof/anti-jam solutions across a range of SWaP-C points.L3Harris has a long-term (three to five years) earnings growth rate of 9.2%. The Zacks Consensus Estimate for LHX’s 2024 sales suggests growth of 9.7% from the prior-year reported figure.BAE Systems BAESY: The company’s MPE-M is a modular, high-performance solution designed to provide precise positioning, navigation and timing capabilities for military platforms. Its M-Code signal increases MPE-M's mission effectiveness while maintaining standard SAASM functionality.BAESY has a long-term earnings growth rate of 12.4%. The Zacks Consensus Estimate for the company’s 2024 sales implies growth of 37.7% from the prior-year reported figure.Northrop Grumman NOC: The company’s LN-270 is a tightly connected, integrated digital INS/GPS that delivers unrivaled pointing and navigation performance in GPS-challenged environments. It is compatible with static and rotational radar systems, sensors and platforms, resulting in the most precise target location performance.NOC boasts a solid long-term earnings growth rate of 19.1%. The Zacks Consensus Estimate for its 2024 sales indicates year-over-year growth of 5.3%.RTX Stock Price Movement In the past six months, shares of RTX have risen 10% against the industry’s decline of 2%.Image Source: Zacks Investment ResearchRTX’s Zacks Rank RTX currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Northrop Grumman Corporation (NOC): Free Stock Analysis Report Bae Systems PLC (BAESY): Free Stock Analysis Report L3Harris Technologies Inc (LHX): Free Stock Analysis Report RTX Corporation (RTX): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks