RTX Corporation (NYSE: RTX) reached a significant program milestone on August 3, when its Raytheon business completed installation of the first SPY-6(V)4 radar array at a Navy test site on Wallops Island, Virginia. Raytheon also serves as the primary system architect and radar provider for the Patriot missile defense system, generating recurring revenue through U.S. and international military sales, maintenance contracts, and software retrofits. Lockheed Martin Corporation (NYSE: LMT) competes directly with RTX in the defense radar market through its SPY-7, TPY-4, and Sentinel radar families, and the U.S. Department of Defense signed a $3 billion framework agreement with Lockheed Martin on June 30, valid through June 2031. Short interest remains light across both names, sitting at 1.27% of float for RTX and 1.62% for Lockheed Martin, indicating minimal organized skepticism from the bearish side of the market. The most striking divergence between the two defense giants is in valuation, with RTX trading at 29.94x forward earnings as of August 5, compared to 19.16x for Lockheed Martin, reflecting the premium the market assigns to RTX’s growth profile.