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  • Thursday, April 25, 2024

BAE Systems Wins Two Contracts Worth Nearly $1 Billion


Defense contractor BAE Systems has secured two major contracts, one with U.K. Ministry Of Defence and the other with the U.S. Army, totaling nearly $1 billion. One is a $347 million five-year contract to provide U.S. army soldiers with hand-held laser target locators that can be used day or night, and a 10-year contract worth $608.5 million from the U.K.’s Royal Navy and the Royal Air Force to maintain and develop their Spearfish and Sting Ray torpedoes.

BAE will partner with Vectronix Inc. for the US Army contract to produce, maintain, and provide logistical support for up to 200 laser target locator modules per month. Deliveries will begin this year, the company said.

Under the U.K. contract, BAE Systems will cover in-service support for the torpedoes through 2019, and provide for the development and upgrafe of the Spearfish torpedo.

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