On Wednesday, General Dynamics (NYSE:GD) announced that its Armament and Technical Products unit has won a pair of contracts from the U.S. Army for the supply and support of Hydra-70 air-to-ground rockets.
Specifically, GD won two such contracts -- a $210.4 million supply agreement, and a $13.5 million contract to perform engineering services "in support" of the program. Work on both contracts is to be completed by early 2015.
The Hydra is a 70 mm unguided rocket, although the military does have programs under way to develop a new, precision-guided version. Within the Army, it is generally fired from Apache and Kiowa Warrior attack helicopters, although a recent demonstration by Lockheed Martin (NYSE:LMT) -- working, incidentally, on the program to develop guided versions of the Hydra -- demonstrated that the rocket can also be fired from a ground vehicle, specifically Lockheed's prototype Joint Light Tactical Vehicle.
Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of General Dynamics and Lockheed Martin. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.