The Pentagon is working on countering the growing technological prowess of Russia and China by investing in a host of new technologies. While many of the details are classified, Raytheon is one of the big winners of the Pentagon’s largesse.
“Countering pure nation threats with advanced technologies is a rapidly developing growth area for Raytheon, especially in our classified business,” Tom Kennedy, Raytheon’s chairman, and the chief executive officer told investors. “Peer nations are working to close the gap with U.S. capabilities, which is driving strong demand from our U-S customers”.
The demand from the Pentagon for new technologies to counter advancing adversary capabilities is driving record profits at the company. “Demand that resulted and a new company record for classified sales in 2017,” Kennedy said. “Looking ahead, our next generation solutions and technologies, such as the Long Range Standoff, the Long-Range Precision Fires, high energy lasers and hypersonics will continue to fuel growth in this area as he U-S looks to maintain its operational and technical dominance”.