Military

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

Sponsored: Find a Qualified Financial Advisor

Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.