RTX Corporation (NYSE: RTX) has reported a total backlog of $289 billion, comprising $170 billion in commercial orders and $119 billion in defense orders, marking a 22% increase year over year.

Chief Executive Officer Chris Calio described demand as “robust,” pointing to the expanding backlog as evidence of sustained momentum across both the commercial and defense segments of the business.

The backlog figure is roughly three times RTX’s projected annual revenue, with management guiding for adjusted sales of between $95 billion and $96 billion for the full year of 2026.

That scale of forward visibility represents a substantial buffer against near-term economic uncertainty and signals a significant runway of secured future business for the aerospace and defense giant.

Second-quarter sales reached $24.7 billion, a 14% increase from the same period a year ago, while adjusted earnings per share climbed 21% to $1.89 on the back of strong demand across segments.

Free cash flow for the quarter came in at $2.9 billion, further underscoring the financial strength RTX has generated as its order pipeline continues to expand.

The defense segment delivered particularly strong results, with Raytheon booking $19.9 billion in orders during the quarter and recording a book-to-bill ratio of 2.42, one of the strongest readings in recent memory.

That surge in defense orders was driven by $5 billion in GEM-T Patriot effector orders and a further $4 billion in classified awards, reflecting robust government appetite for advanced and proven defense systems.

Collins Aerospace posted sales growth of 8%, reaching $8.2 billion for the quarter, with commercial original equipment sales rising 26% and commercial aftermarket revenue increasing 10%.

The backlog is split approximately 60% commercial aerospace and 40% defense, a division that has given RTX meaningful strategic flexibility when approaching new contract opportunities.

That balance has allowed RTX to be selective in bidding on defense contracts, with the company able to walk away from deals it considers unfavorable while focusing resources on proven programs such as Patriot missiles.

Backlog growth continuing to outpace revenue growth means RTX’s forward revenue visibility is becoming one of its most compelling investment characteristics as the second half of 2026 approaches.