Here's a milestone that's been a long time coming: RTX Corp (RTX) just landed its first domestic production order for GEM-T Patriot interceptors in more than 30 years. The company revealed the news during its second-quarter earnings call, noting that the order was part of over $5 billion in Patriot-related bookings for the quarter, fueled largely by international buyers.
The announcement underscores the accelerating global appetite for air and missile defense systems. RTX said its Raytheon unit booked more than $10 billion in international defense awards in the first half of the year—more than double last year's level—with international customers now accounting for 48% of Raytheon's backlog.
But it's not just overseas demand picking up. Management pointed to growing U.S. interest, citing bipartisan support for higher defense spending and ongoing talks to turn long-term framework agreements into actual production contracts. CEO Christopher Calio noted that Patriot systems have proven their worth "in some of the most contested environments," which is driving demand both at home and abroad.
