RTX Corporation (RTX)'s Raytheon Delivers 500th ESSM Block 2 Missile To Navy

RTX Corporation (NYSE:RTX) is among the 11 Best Military Drone Stocks to Buy According to Hedge Funds. Recently, Raytheon delivered its 500th ESSM Block 2 missile to the U.S. Navy.

In a press release shared on October 1, the company said that it was investing on materials and infrastructure to continue deliveries, with the aim of doubling production rates by mid-2026.

The advanced surface-to-air missile has proven its efficacy against several air and sea-surface threats. Its features include an upgraded guidance system, which offers dual-mode active and semi-active radar seeker, enhanced performance, and better maneuverability compared to the Block 1 predecessor.

Barbara Borgonovi, president of Naval Power at RTX Corporation (NYSE:RTX)’s Raytheon business, stated the following on the development:

“ESSM plays a crucial role in helping to ensure both ship self-defense and local area defense for U.S. and allied navies around the globe. The continued delivery of this capability is a testament to the strong partnerships and shared commitment among our team, our customers, and our allied nations to equip our servicemen and women with the best defense solutions.”

RTX Corporation (NYSE:RTX) is a giant in the global aerospace and defense industry, providing systems and services to commercial, military, and government clients. It operates through three main businesses: Collins Aerospace, Pratt & Whitney, and Raytheon.

The stock has had impressive returns this year, gaining nearly 44% year-to-date, as of the close of business on October 3.

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