BAE, General Dynamics Win $340M in Ground Combat Vehicle Tech Extensions

BAE-systems-logo_GovConWireBAE Systems and General Dynamics (NYSE: GD) have won an estimated $340 million combined in contract modifications to continue developing technology for a future U.S. Army ground combat vehicle.

The Army awarded BAE $159, 481, 403 and General Dynamics $180, 399, 976 to continue work for six more months, the Defense Department said Tuesday.GDlogo

Two years ago, the Army awarded a BAE-Northrop Grumman (NYSE: NOC) team $449.9 million to prototype a vehicle with a hybrid electric drive propulsion system for the GCV program.

General Dynamics’ team, comprising of Lockheed Martin (NYSE: LMT) and Raytheon (NYSE: RTN), won $439.7 million to design a vehicle with a rocket-propelled grenade protection subsystem prototype.

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