RTX Awarded $205M Contract for Continued Production of the Phalanx Close-In Weapon System

Raytheon, an RTX (NYSE: RTX) business, has been awarded a $205 million contract from the U.S. Navy for continued production of the Phalanx Close-In Weapon System (CIWS).

As part of the contract, Raytheon will provide upgrades, conversions, overhauls, and related equipment.

"Phalanx is our Navy's last line of defense, expertly designed to protect our sailors from the threats they face every day," said Barbara Borgonovi, president of Naval Power at Raytheon. "Securing this contract underscores the trust the U.S. Navy places in an absolutely critical system."

The Phalanx weapon system is a rapid-fire, computer-controlled, radar-guided gun that can defeat anti-ship missiles and other close-in threats that may penetrate preceding layers of defense. It is installed on all U.S. Navy surface combatant ship classes and on those of 24 allied nations.

In January 2024, Phalanx was deployed by the USS Gravely to destroy a Houthi missile in the Red Sea just moments before impact, saving the lives of over 300 sailors onboard.

Work on this contract will take place in Louisville, Ky. and other U.S. sites through 2029.