March 13, 2013
On Tuesday, the Department of Defense announced a number of smallish (in defense industry terms) contracts awarded to several publicly traded companies. Among these:
- British defense contracting giant BAE Systems (NASDAQOTH: BAESY ) won a $66 million Foreign Military Sales contract. BAE will supply AN/AAR-57 Common Missile Warning Systems (CMWS) to the militaries of the United Arab Emirates and Saudi Arabia. CMWS is a system designed to notify the pilot/driver of an aircraft/vehicle when it has been targeted by a heat-seeking missile, and to identify the source of the threat. This contract is to be completed by March 6, 2015.
- United Technologies' (NYSE: UTX ) Sikorsky Aircraft unit won a contract for $45.3 million to supply helicopter hub rotors. This contract runs through March 5, 2018.
- Raytheon (NYSE: RTN ) was awarded a $26.9 million contract to supply "tube-launched optically tracked wireless-guided missiles" for the U.S. Marine Corps. The completion date here is Dec. 31, 2015.
- General Dynamics' (NYSE: GD ) Land Systems division landed a $19.9 million Foreign Military Sales contract modification, funding continued training services and contractor logistics support services in Iraq. This contract expires Sept. 30, 2013.
- Lockheed Martin (NYSE: LMT ) was awarded $12 million to provide "interim contractor support" for the AN/TPQ-53 counterbattery radar system. Similar to the AN/AAR-57 system BAE is supplying to our Gulf allies, AN/TPQ-53 detects indirect fire (think artillery or mortar rounds), and identifies the source of the fire so that allied forces can quickly target the offending artillery unit. Completion date: Sept. 30, 2013.