Is RTX Strengthening Its Position in the Global Missile Market?

RTX Corporation RTX continues to strengthen its position in the global missile market through its Raytheon business, supported by rising defense spending and growing demand for advanced precision weapons. The company offers a broad portfolio of missile and interceptor systems that address air-to-air, air defense, naval and long-range strike requirements.

RTX’s Raytheon business provides several combat-proven systems, including the Advanced Medium-Range Air-to-Air Missile (AMRAAM), AIM-9X, Tomahawk, Standard Missile and SM-6. These programs give RTX exposure to multiple areas of modern warfare, while its investments in next-generation technologies are helping expand its capabilities to address evolving threats.

Rising demand for missiles and interceptors is also encouraging RTX to expand production of several key systems. The company is increasing capacity for programs such as Tomahawk, AMRAAM and SM-6 as the United States and its allies seek to replenish inventories and strengthen their defense capabilities. This growing production base could provide greater visibility into future sales while helping RTX meet increasing customer requirements.

RTX’s missile business is benefiting from strong defense bookings, a record backlog and rising international demand. RTX ended the second quarter of 2026 with a record $289 billion backlog, up 22% year over year, including $119 billion in defense work. The company secured $43 billion in new awards, with nearly $20 billion at its Raytheon business, including more than $5 billion in GEM-T Patriot awards and $1.8 billion for AMRAAM. Recent SPY-6 and AIM-9X awards further highlight strong demand for RTX’s missile and defense systems. These developments position RTX well to benefit from continued growth in the global missile market.

Other Stocks to Keep on the Watchlist

Other aerospace and defense companies that are likely to benefit from the growing global demand for missile and defense systems are discussed below:

Lockheed Martin Corporation LMT: The company has a broad portfolio of missile and missile-defense programs, including PAC-3, THAAD, JASSM, Javelin and other advanced weapons. Its presence across air defense, precision strike and hypersonic technologies positions it well to benefit from rising defense investments.

Northrop Grumman Corporation NOC: The company develops advanced missile systems, propulsion technologies, sensors and command-and-control solutions for modern defense missions. Its capabilities in long-range strike, missile defense and advanced munitions provide exposure to the growing demand for next-generation weapons.

The Zacks Rundown for RTX

Shares of RTX have surged 43% in the past year compared with the industry’s 5.2% growth.

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The company’s shares are trading at a discount on a relative basis, with its forward 12-month Price/Earnings being 29.19X compared with its industry’s average of 34.03X.

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The Zacks Consensus Estimate for RTX’s 2026 and 2027 earnings has moved north over the past 60 days.

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RTX stock currently carries a Zacks Rank #2 (Buy).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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This article originally published on Zacks Investment Research (zacks.com).

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