RTX Secures Contract To Develop Rotating Detonation Engine For DARPA

(RTTNews) - RTX Corp. (RTX), an aerospace and defense company, announced on Wednesday that its unit Raytheon has bagged a contract from the Defense Advanced Research Projects Agency or DARPA to develop Gambit, a rotating detonation engine. The financial details of the transaction are not known.

The engine is an air-breathing propulsion demonstration program that is compact and provides a higher efficiency propulsion source than conventional missile propulsion at potentially lower costs.

"With this contract, RTX becomes the first company to apply rotating detonation engine technology into an actual test system," the company said.

In pre-market activity, shares of RTX are trading at $70.85, up 0.38% on the New York Stock Exchange..