RTX Corporation (RTX) Delivers 250th RAM MK49 Launcher to U.S. Navy
RTX Corporation (NYSE:RTX)'s Raytheon business and its German partner, RAM-Systems GmbH, have delivered the 250th RAM MK49 Guided-Missile Launching System to the US Navy for deployment on the USS Pittsburgh, the company announced on Monday.
The RAM program is a bilateral partnership between the United States and Germany, with RTX Corporation (NYSE:RTX)'s Raytheon being a prime contractor. As a vital component of naval defense, RAM helps protect naval vessels, ranging from corvettes to aircraft carriers, from threats like aircraft, drones, and advanced anti-ship cruise missiles.
Pixabay / Public Domain
RTX Corporation (NYSE:RTX) also stated that Raytheon and its German partners continue to invest in modernizing the RAM system to increase production capacity and enhance the capabilities of the RAM effector and launching system.
Barbara Borgonovi, the President of Naval Power at Raytheon, stated the following on the development:
"The RAM missile system has been a cornerstone of naval defense capabilities for decades, and this 250th GMLS delivery is a testament to the important role it plays in defending U.S. and allied forces. As we continue to modernize and expand the deployment of RAM, it remains a critical asset in protecting our sailors and ships from evolving threats."
While we acknowledge the potential of RTX, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than RTX and that has 100x upside potential, check out our report about this cheapest AI stock.
READ NEXT: 10 Best Drone Stocks to Buy According to Billionaires and 11 Best American Defense Stocks to Buy Now.
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