Investing.com
Louis Juricic
30 April 2025
President Donald Trump indicated on Wednesday that Raytheon (NYSE:RTN) Technologies (NYSE:RTX) and IBM (NYSE:IBM) are potential candidates for a contract to modernize the U.S. air traffic controller system. While there are five companies in total being considered, he singled out these two during a cabinet meeting.
The President emphasized the urgency of replacing the current system, which he described as outdated and inefficient. He criticized the billions of dollars spent over the past four years on upgrades, which he claimed have been ineffective, stating that the system is still reliant on obsolete technology.
The need for a state-of-the-art air traffic control system was stressed, with the President highlighting a recent incident where a helicopter collided with a plane due to a lack of warning systems. He stated that with the right equipment, such accidents could be prevented.
He also emphasized the importance of having a single contractor to oversee the entire project, including the installation of new equipment and integrating old systems with new ones. He suggested that this contractor could be one of several major companies, including Raytheon Technologies and IBM.
Read on: Raytheon and IBM in the running for air traffic control system overhaul By Investing.com
