Aerospace & Defense

Pentagon Awards $575 Million in Defense Contracts

The Department of Defense awarded 17 defense contracts in its Wednesday evening announcement of contract awards. The total value of these contracts was $574.8 million.

Among the publicly traded companies winning contracts:

  • Raytheon (NYSE: RTN) was awarded a $115.5 million contract modification to upgrade and overhaul MK15 Phalanx Close-In Weapon Systems for the U.S. Navy through September 2017.
  • General Dynamics (NYSE: GD) was awarded a $37.6 million contract modification to supply the U.S. Army with M865 recapitalization cartridges for 120mm tank training ammunition. This contract will run through May 31, 2016.
  • Alliant Techsystems (NYSE: ATK) was awarded a similar $31.6 million contract modification to supply the Army with 120 mm tank training ammunition through Jan. 31, 2016.
  • AAR (NYSE: AIR) won a $6.9 million firm-fixed-price contract to provide ship-based and shore-based helicopter-borne supply delivery, search and rescue support, med-evac, passenger transport, and other services for the U.S. Naval Air Forces Command. Due for initial completion in September 2015, this contract includes the possibility of up to four subsequent 12-month option periods, which, if exercised, would extend the contract’s duration through September 2019 and raise the cumulative value of this contract to $34.4 million.
  • Boeing (NYSE: BA) won two contracts — a $22 million contract to perform engineering maintenance on U.S. Navy C-40A Clipper transport aircraft through January 2019, and also a $9.8 million modification to supply spare parts for and perform repairs on U.S. Navy F/A-18 E/F fighter aircraft through December 2015.  

ALSO READ: Famous Products Invented for the Military