tiprankstipranks
Trending News
More News >
Advertisement
Advertisement

RTX awarded $497.69M Navy contract

RTX (RTX) was awarded a $497.69M firm-fixed-price contract to produce, test, and deliver fully integrated Navy Multiband Terminals. The NMT is a multiband capable satellite communications terminal that provides both protected and wideband communications. The NMT provides the Navy secure, protected, and survivable communications using the Advanced Extremely High Frequency, Enhanced Polar System, Enhanced Polar System Recapitalization, Milstar Block I&II, Ultra High Frequency Follow-On/Extremely High Frequency (EHF)/Enhanced EHF, and Polar satellites. Work will be performed in Marlborough, Massachusetts and is expected to be completed by Oct. 31, 2031. This contract includes options which, if exercised, would bring the cumulative value of this contract to an estimated $547.04M. If all options are exercised, work could continue until September 2035. This contract action was not competitively procured because it is a sole-source acquisition pursuant to the authority of 10 U.S. Code 2304 – Only One Responsible Source. The Naval Information Warfare Systems Command is the contracting activity.

Elevate Your Investing Strategy:

  • Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Disclaimer & DisclosureReport an Issue

1