Textron's (TXT) Ripsaw 3 vehicle has been selected as the winner of the US Army's latest Robotic Combat Vehicle competition, Breaking Defense reported Friday, citing three sources familiar with the situation.
Although the Army's official announcement is expected later this month, vendors have already been informed, and sources within the industry and military said Textron was the victor, according to the report.
The Ripsaw 3 met the US Army's requirements for a rugged and versatile unmanned platform, according to previous company statements, but the Army later shifted to a single vehicle size and launched a new competition, the report said.
An Army spokesperson declined to confirm whether a selection had been made, stating that the competition remains ongoing until the awards are finalized, while Textron did not immediately respond to a request from Breaking Defense.
Both the Army and Textron didn't immediately respond to MT Newswires' request for comment.
TXT shares were up 2.2% in recent trading.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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