RTX Corp. (RTX) Scales Up Missile Defense Systems Manufacturing in Massachusetts

RTX Corp. (NYSE:RTX) is one of the best defense stocks in Goldman Sachs’ portfolio. On October 15, Raytheon, a business unit of RTX, announced that it is undertaking a $53 million expansion of its 23,000-square-foot Andover, Massachusetts-based facility for the production of Lower Tier Air and Missile Defense Sensor (LTAMDS). LTAMDS is a radar system used to neutralize advanced threats, including hypersonic weapons. The company is ramping up its capabilities at this facility so that it can accelerate the delivery of these systems.

Tom Laliberty, president of Land and Air Defense Systems at Raytheon, considers this investment necessary for providing better services to its customers and stated:

“This vital investment will significantly bolster our ability to meet the growing global demand for LTAMDS. The expansion will accelerate delivery of this critical radar to U.S. and international customers, ensuring they are equipped with the most advanced defense technology available.”

RTX Corp. (NYSE:RTX) is one of the world’s largest aerospace and defense companies and has three main business units. Raytheon, one of them, designs, develops, and provides advanced capabilities, including those in integrated air and missile defense, smart weapons, missiles, advanced sensors and radars, interceptors, space-based systems, and hypersonics. The other two units are Collins Aerospace and Pratt & Whitney, the latter of which is among the world’s leading suppliers of aircraft engines.

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Disclosure: None. This article is originally published at Insider Monkey.