RTX (RTX) said Wednesday its Collins Aerospace unit will continue development of the US Navy's Cooperative Engagement Capability under a follow-on contract with a potential for up to $904 million over five years.

RTX said that since 1985, it has been the sole provider of the Cooperative Engagement Capability, which enables integrated fire controls by integrating sensors across surface, land and air platforms.

The company said the new sole-source contract comes after an existing five-year design agent contract.

Price: 128.84, Change: +0.49, Percent Change: +0.38