LAFAYETTE – RTX subsidiary, Blue Canyon Technologies (NYSE: RTX), has been selected by NASA to build two 12U CubeSat buses for the PolSIR mission. This initiative aims to improve climate predictions by studying high-altitude ice clouds in tropical and subtropical regions. The announcement was made on Wednesday 12 June 2024.
Blue Canyon Technologies will not only develop and manufacture the satellite bus platforms, but will also provide operational services for the mission. The Polarized Submillimeter Ice-cloud Radiometer (PolSIR) instrument will be at the center of the mission, observing the entire diurnal cycle of ice clouds to collect essential data for climate modeling and understanding atmospheric changes.
The two CubeSats will carry radiometers to monitor the daily cycle of cloud ice content across two spectral bands. They will operate in staggered orbits of three to nine hours to ensure continuous observation.
Chris Winslett, general manager of Blue Canyon Technologies, highlighted the company’s consolidated experience in weather monitoring missions, citing previous projects such as TEMPEST-D and TROPICS as the basis for the PolSIR mission.
NASA’s Goddard Space Flight Center is in charge of project management and instrument construction for the Vanderbilt University-led mission. The University of Wisconsin-Madison’s Space Science and Engineering Center will handle science operations.
Blue Canyon Technologies, acquired by RTX, offers a range of spacecraft and components that support various missions as part of the burgeoning space economy. The company has more than 140 cumulative spacecraft orders.
RTX, a conglomerate with aerospace and defense businesses, reported 2023 revenue of $69 billion and employs more than 185,000 people worldwide. Its activities range from aviation and integrated defense systems to next-generation technological solutions.
In other recent news, Raytheon Technologies (RTX) secured a $677 million contract to continue producing AN/SPY-6(V) radar for the U.S. Navy. This contract brings the total to 38 radars on order. The radar system is designed to provide increased aerial surveillance and improved detection capabilities. Jefferies maintained a Hold rating and $105.00 stock target for RTX Corp. Additionally, RTX Corp declared a quarterly dividend of 63 cents per share.
In other developments, Collins Aerospace, a unit of RTX, has secured a major contract to supply systems for the US Air Force’s new Survivable Airborne Operations Center (SAOC) aircraft. Additionally, Pratt & Whitney Canada, another RTX business unit, has received certification from Transport Canada Civil Aviation for its PW545D engine.
Insights from InvestingPro
As RTX subsidiary Blue Canyon Technologies secures a central role in NASA’s PolSIR mission, the company’s financial health and market performance provide broader context for this development. RTX, a leading aerospace and defense player, has demonstrated a commitment to shareholder value with aggressive share repurchase programs, as indicated by one of suggestions Of InvestingPro. This proactive management strategy is complemented by the company’s impressive track record of maintaining dividend payments for 54 consecutive years, providing investors with consistent returns.
On the financial front, RTX’s market capitalization stands at $142.12 billion, reflecting investor confidence and the company’s significant presence in the market. THE suggestions Of InvestingPro They also highlight that RTX is expected to post net profit growth this year, which could be attractive to investors looking for profit opportunities. Furthermore, the company’s stock has seen substantial price upside over the past six months, with a total return of 33.6%, showing solid performance and continued growth potential.
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