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Defence Procurement: RTX's Raytheon Invests US$100m in US

Raytheon, a subsidiary of RTX Corporation, is investing US$100 million to expand its Portsmouth, Rhode Island facility. This investment aims to boost the production of LTAMDS radar and Patriot GEM-T missile subcomponents in response to increasing global demand and surging defense spending in the US and Europe. This expansion aligns with significant contract awards and projected increases in US defense spending, highlighting a broader strategy to enhance production capacity amidst strained munitions stockpiles.