Raytheon, an RTX (RTX) business, has been awarded a contract from the Office of Naval Research to further develop advanced radar software for next-generation naval radars. Raytheon's Advanced Technology team will develop software that enables each building block within a radar to operate independently, allowing a single radar to perform multiple missions simultaneously.
Colin Whelan, president of Advanced Technology at Raytheon, said: "With precise, software-driven control over where and how we radiate, we're taking an important step forward in how we use software-defined apertures to keep pace with evolving mission demands."
In pre-market trading on NYSE, RTX shares are down 0.19 percent to $170.77.
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Business News
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.