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  • Thursday, April 25, 2024

SAIC Awarded $102M to Continue Heavyweight Torpedo Support for U.S., Foreign Navies

Science Applications International Corp. (NYSE: SAIC) has secured $102.5 million in contract options from the U.S. Navy to perform support work on heavyweight torpedo components for the service branch and the governments of Taiwan and Australia. 

The firm-fixed-price, cost-plus-fixed-fee award encompasses production, engineering and repair of MK 48 heavyweight torpedo parts, the Department of Defense said Friday.

Eighty percent of work will occur in Bedford, Indiana, and the rest will take place in Middletown, Rhode Island, through January 2026.

The Navy will use its fiscal 2022 and 2023 weapons procurement budget to cover the contract’s initial obligation of $56.2 million.

Exercised options are part of a potential $1.11 billion contract SAIC received in November 2021 to manufacture MK 48 afterbody/tailcone sections.

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