Leonardo DRS Inc. (NASDAQ:DRS) is one of the best aerospace and defense stocks to buy according to Wall Street analysts. On December 16, the company confirmed the first on-orbit test of its revolutionary multi-channel, software-defined radio. It marks a significant milestone in validating the technology’s ability to secure US military satellite data transport at the tactical edge.
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The eXtended Crypto Module3-Space (XCM3-Space) is designed for the next generation of crypto and multi-channel SDR capabilities. Therefore, it can address emerging cyber and electronic warfare threats to military satellite data transport.
“Secure, flexible satellite data transport is the backbone of modern military operations,” said Larry Ezell, senior vice president and general manager of Leonardo DRS Airborne and Intelligence Systems. “Our investments in next-generation low Earth orbit SDR provide a decisive leap forward, overcoming the limitations of legacy systems that are rigid and difficult to update once deployed.
Additionally, on December 8, the company entered into a memorandum of intent with Saudi Arabia’s Ministry of Defense to explore collaboration opportunities for ground combat vehicles. The collaboration paves the way for cooperation in areas including battle management systems, C6ISR solutions for brigade-level units, and rugged vehicle computing hardware.
Meanwhile, on December 16, Morgan Stanley analyst Kristine Liwag reiterated a Hold rating on Leonardo DRS and set a $40 price target.
Leonardo DRS Inc. (NASDAQ:DRS) is a U.S. defense technology firm that delivers advanced systems and services to military and intelligence agencies. From components to full integration across land, sea, air, and space platforms, the company has spent over 50 years building a strong reputation with the Department of Defense and allied partners.
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Disclosure: None. This article is originally published at Insider Monkey.
