StockNews.AI
DRS
StockNews.AI
218 days

Leonardo DRS Awarded $99 Million Contract to Modernize U.S. Army's Mortar Fire Control System

1. Leonardo DRS awarded $99 million contract for Mortar Fire Control Systems. 2. The contract enhances U.S. Army mortar capabilities with advanced digital systems. 3. DRS aims to improve battlefield operations through network computing innovations. 4. This win reflects DRS's expertise in C5 technology and modernization efforts.

Mass Contract
+1.98%Current Return
VS
+0.12%S&P 500
$33.8301/13 04:14 PM EDTEvent Start
$34.501/14 10:52 PM EDTLatest Updated
5m saved
Insight
Article

FAQ

Why Bullish?

The substantial contract value indicates strong demand, potentially boosting investor confidence, similar to past DRS contracts.

How important is it?

The article highlights a significant contract that is expected to have positive implications for DRS's operations and financials.

Why Long Term?

Sustained revenue from modernization contracts can enhance DRS's growth trajectory over time, akin to their past defense deals.

Related Companies

NYSE: LMTNYSE: GDNASDAQ: RTX
ARLINGTON, Va.--(BUSINESS WIRE)--Leonardo DRS, Inc. (NASDAQ: DRS) announced today it has been awarded a contract to provide the U.S. Army with next-generation Mortar Fire Control Systems (MFCS). The firm fixed-price IDIQ contract is worth more than $99 million. Under the contract, Leonardo DRS is responsible for the production and delivery of fire control systems and fielding services to support mortar Weapons and Fire Control programs. The MFCS modernizes the U.S. Army’s current mortar fire control capability, linking mortar fires with the digital battlefield. MFCS combines a highly accurate weapon pointing device, an inertial navigation/position system, and a digital communications capability embedded in a rugged fire control computer to create a highly responsive and accurate fire control system. The system allows mortar crews to send and receive digital call for fire messages, determine the pointing and position of the weapon, and calculate ballistic solutions. “Leonardo DRS is uniquely qualified for this program because of its extensive catalogue of technology and experience in providing advanced, ruggedized and networked computing systems across the U.S. Army inventory,” said Dennis Crumley, senior vice president and general manager of the Leonardo DRS Land Electronics business unit. “We are proud to have been selected for this important contract supporting Army modernization and look forward to partnering with the program offices to support our warfighters with this enhanced next-generation mortar and fire control computing capability,” he said. Network computing is a key strategic focus for the DRS as it continues to be the leading provider of advanced C5 technologies, enabling increased data and communications needed for targeting, situational awareness and Battle Management Systems (BMS) in multi-domain battlefield operations. The company is investing in the future of C5 for the Department of Defense through the development of the next generation of tactical computing Systems, AI processing solutions and advanced C5ISR/EW Modular Open Suite of Standards/ Sensor Open System Architecture (CMOSS/SOSA) aligned mounted systems – all aimed at enabling future network and platform processing to improve sensor fusion, situational awareness, and reduce the cognitive burden for commanders and crews. About Leonardo DRS Headquartered in Arlington, VA, Leonardo DRS, Inc. is an innovative and agile provider of advanced defense technology to U.S. national security customers and allies around the world. We specialize in the design, development and manufacture of advanced sensing, network computing, force protection, and electric power and propulsion, and other leading mission-critical technologies. Our innovative people are leading the way in developing disruptive technologies for autonomous, dynamic, interconnected, and multi-domain capabilities to defend against new and emerging threats. For more information and to learn more about our full range of capabilities, visit www.LeonardoDRS.com. Forward-Looking Statements This communication contains statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Those statements reflect current expectations, assumptions and estimates of future performance and economic conditions. The company cautions investors that any forward-looking statements which include contract values, contract performance and our development and production of products are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements.

Related News