Military
Pentagon Awards $540 Million in Defense Contracts
Published:
Last Updated:
The Pentagon awarded seven defense contracts in its Wednesday evening announcement of contract awards, totaling $540.4 million.
By far, the largest of these contracts, allocating nearly 83% of all funds on offer for the day, went to Britain’s BAE Systems (NASDAQOTH: BAESY), which was awarded a $447 million contract modification increasing the ceiling value on a contract to supply the U.S. Army with AN/AAR-57(V) Common Missile Warning Systems and associated spare parts. BAE will also provide the Army with systems engineering, technical, and logistics support services for both CMWS and for AN/ALQ-212 Advanced Threat Infrared Countermeasures (ATIRCM) systems through Sept. 29, 2016. BAE won a smaller, but related, contract for CMWS work last week.
CMWS is a system designed to notify the pilot/driver of an aircraft/vehicle when it has been targeted by a heat-seeking missile, and to identify the source of the threat. The related ATIRCM defensive system then attempts to jam such missile with infrared lasers, throwing them off course.
The other publicly traded companies winning contracts Wednesday were:
Retirement can be daunting, but it doesn’t need to be.
Imagine having an expert in your corner to help you with your financial goals. Someone to help you determine if you’re ahead, behind, or right on track. With SmartAsset, that’s not just a dream—it’s reality. This free tool connects you with pre-screened financial advisors who work in your best interests. It’s quick, it’s easy, so take the leap today and start planning smarter!
Don’t waste another minute; get started right here and help your retirement dreams become a retirement reality.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.