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

Core Insights - RTX Corporation is recognized as one of the 11 best military drone stocks to buy according to hedge funds, highlighting its strong position in the defense sector [1] - The company recently delivered its 500th ESSM Block 2 missile to the U.S. Navy, showcasing its production capabilities and commitment to defense solutions [2][3] Production and Investment - RTX is investing in materials and infrastructure to double production rates of the ESSM Block 2 missile by mid-2026, indicating a strategic focus on increasing output to meet demand [2] - The ESSM Block 2 missile features an upgraded guidance system, enhanced performance, and improved maneuverability compared to its predecessor, emphasizing technological advancements [3] Strategic Importance - The ESSM missile is crucial for ship self-defense and local area defense for U.S. and allied navies, reflecting the company's role in global defense partnerships [3] - RTX operates through three main business segments: Collins Aerospace, Pratt & Whitney, and Raytheon, positioning itself as a major player in the aerospace and defense industry [3] Stock Performance - RTX stock has gained nearly 44% year-to-date as of October 3, indicating strong market performance and investor interest [4]