As geopolitical tensions rise around the world, defense contractors like RTX, which specializes in commercial aircraft systems and defense products and weapons, are seeing their sales pick up.
RTX said on Tuesday that it now has a $218 billion backlog for its commercial aircraft and defense products—owing to an uptick in passenger air-travel activity as well as new U.S. and international weapons and defense contracts. On an call with investors following its fourth quarter earnings report, RTX CEO Christopher Calio said that it had more than 30 defense systems being used in active combat around the world, and that there had been “tremendous” demand for its Patriot missile defense system, F135 propulsion system, and Coyote kinetic effector, among other products.
