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Honeywell Wins $550 Million Extension of Military Satellite Contract

The Department of Defense issued 27 new contracts Thursday, worth a combined $1.45 billion. Of these, the largest contract by far went to Honeywell (NYSE: HON  ) .

Valued at $550 million, the contract awarded to Honeywell's Technology Solutions unit exercises a third option year on a pre-existing contract. Pursuant to this contract, Honeywell will provide system and maintenance engineering, network support integration, on-site and off-site depot level maintenance, and software maintenance for the U.S. Air Force's Satellite Control Network (AFSCN).

The Air Force describes AFSCN as the system whereby American military satellites are controlled in orbit. It comprises various satellite control centers, tracking stations, and test facilities around the globe, and is tasked with tracking satellites, receiving and processing data transmitted by satellites, and sending commands to the satellites. Honeywell won the contract to upgrade AFSCN in a competition in 2001, when it won control of the contract away from the previous contractor, Lockheed Martin.

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Rich Smith
TMFDitty

As a defense writer for The Motley Fool, I focus on defense and aerospace stocks. My job? Every day of the week, I'm monitoring the news, figuring out the winners and losers, and tracking down the promising companies for you to invest in. Follow me on Twitter or Facebook for the most important developments in defense & aerospace, and other great stories.

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7/7/2015 4:02 PM
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