According to the Department of Defense, “SAIC (NYSE: SAI) is being awarded an $8, 407, 583 cost-plus-fixed-fee contract for the Vector Sensor Array System development, performance engineering, and research. SAIC will help continue the development of underwater acoustic sensors. The contract will be incrementally funded at this time in the amount of $500, 000. This contract contains options which, if exercised, will bring the contract value to $17, 506, 219. Work will be performed at the contractor’s facility in McLean, Va., and is expected to be completed May 2016. Contract funds will not expire at the end of the current fiscal year. The contract was competitively procured under the Long Range ONR BAA 11-001; numerous proposals were received but only one award was made. The Office of Naval Research, Arlington, Va., is the contracting activity (N00014-11-C-0244).”
A partnership between Lockheed Martin (NYSE: LMT) and Raytheon (NYSE: RTN) has landed a potential four-year, $185.6M contract to manufacture man-portable anti-tank weapon systems for the U.S. Army, Navy and Marine Corps.