Raytheon Technologies Corporation (NYSE: RTX) said last week that it plans to acquire a firm in a new section of the special services industry. The corporation intends to buy a potential asset in space analytics.
RTX plans to buy the British firm NORSS (Northern Space and Security), which specializes in spacecraft orbit analysis, space monitoring, and satellite tracking, among other things.
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NORSS services may grow increasingly in demand in the future, not only in the military but also in the public sector. As seen in the graph below, the number of active satellites in near-Earth orbit has increased fivefold in the last decade.
Continuous orbit tracking and trajectory prediction are becoming increasingly important for avoiding satellite collisions and debris in near-Earth space, as well as planning the deployment of new satellites.
Raytheon Technologies Corporation (RTX) will be able to compete for a piece of this fast-developing industry with the purchase of NORSS. The agreement is also advantageous to NORSS since it opens up the US market, and Raytheon’s assistance may help obtain long-term government contracts.
NORSS was established in 2017 and has prior expertise working with government directives. The firm employs roughly a dozen people, has four offices, one observatory, and over 20 partners. Raytheon Technologies Corporation (RTX) can prepare an asset for growth in this manner.
NORSS may provide advisory services and train personnel in areas such as space debris control and deorbiting operations for retired spacecraft.
Raytheon Technologies Corporation’s (NYSE: RTX) stock is up 3.27 percent in the last week but down -7.39 percent in the last quarter. Going back further, the stock’s price has increased by more than 6.62 percent in the previous six months but is up 9.47 percent year to date.
Traders and investors may also choose to study the ATR or Average True Range when concentrating on technical inventory assessment. Currently, 2.43 is the 14-day ATR for Raytheon Technologies Corporation (RTX). The highest level of 52-week price has $106.02 and $79.00 for 52 weeks lowest level.