RTX Corp (RTX)

RTX Corporation is an aerospace and defense company that provides advanced systems and services to commercial, military, and government customers worldwide. It was incorporated in Delaware in 1934. The company serves commercial and government customers in both the original equipment and aftermarket parts and services segments of the aerospace industry, and its defense business acts as a prime contractor or subcontractor on a broad portfolio of defense programs for domestic and international customers.

RTX operates through three business segments. Collins Aerospace supplies aerospace and defense products and aftermarket services, including power generation and distribution, environmental control, flight control, avionics, sensing, landing systems, nacelles, lighting, cargo and evacuation systems, cabin interiors, propellers, communications, navigation and surveillance systems, space systems, connected aviation, air traffic management, and simulation and training. Pratt & Whitney designs, manufactures, and services large and small aircraft engines for commercial, military, business jet, general aviation, and helicopter applications, as well as auxiliary power units. Its products include the PW1000G Geared Turbofan family, the F135 engine for the F-35 fighter, the PT6 family, and development programs such as the XA103 engine. It also provides fleet management and maintenance, repair, and overhaul services. Raytheon provides threat detection, tracking, and mitigation capabilities, including integrated air and missile defense, missiles and smart weapons, radars and sensors, interceptors, space-based systems, and hypersonics. Examples include Patriot, LTAMDS, NASAMS, AMRAAM, Tomahawk, SM-3, SM-6, AIM-9X, Javelin, Stinger, SPY-6, and the Coyote unmanned system.

Customers include aircraft manufacturers, airlines and other operators, aircraft leasing companies, airports, maintenance providers, distributors, defense contractors, and the U.S. and foreign governments. Boeing and Airbus are Collins' largest commercial customers (16% of Collins sales in 2025), and Airbus is Pratt & Whitney's largest (29% of its segment sales in 2025). Raytheon serves the U.S. Department of War, including the Navy, Army, Air Force, Space Force, and Missile Defense Agency, plus federal civil, international, and classified customers. Sales to the U.S. government were $33.3 billion, or 38% of total net sales, in 2025, while international sales were $41.3 billion, or 47%. Total backlog was $268 billion at December 31, 2025, up from $218 billion a year earlier.

All of the company's businesses face significant competition on price, delivery schedule, past performance, reliability, service, innovation, and technology. Competitors include numerous U.S. and foreign companies, some with government support, along with new entrants and suppliers of aftermarket parts. RTX often partners with major suppliers who compete with it on other programs. Pratt & Whitney shares revenues, costs, and risks on its engine programs through collaboration arrangements, with third-party interests ranging from 13% to 49% per program. Collins is expanding operational capacity in the U.S. (including Puerto Rico), India, Mexico, Singapore, and the Philippines. At December 31, 2025, RTX had about 180,000 employees in 52 countries, including about 54,000 engineers, and 69% of its employees were in the U.S.