Honeywell Lands $99M Air Force Contract for Embedded GPS. Navigation Tech Modernization

Honeywell (NYSE: HON) has secured a four-year, $99.1M contract to help the U.S. Air Force update the service branch’s Embedded Global Positioning System/Inertial Navigation System.

The company will provide engineering, manufacturing and development services to the EGI-Modernization program under the sole-source contract, the Department of Defense said Monday.

The Air Force is obligating $20M in fiscal 2020 research, development, test and evaluation funds at the time of award. Contract work will take place Clearwater, Fla., through April 19, 2024.

DoD announced in February a potential 15-year, $3.5B contract award to Honeywell for EGI follow-on production and sustainment services.

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