The U.S. Department of Defense announced 20 new contract awards on Thursday worth a total of $796 million in combined value. One single contract, however, ate up more than 30% of the available funds.
The winners of this mega contract included:
Britain's BAE Systems
Booz Allen Hamilton
and three privately held companies -- Coherent Technical Services, AM Pierce and Associates, and Sierra Nevada Corp.
Each of the six will share in a cost-plus-fixed-fee multiple award contract to supply systems engineering support to the Naval Air Warfare Center Aircraft Department, Aircraft Control Systems Division. Contractors will work on such cutting-edge programs as Joint Precision Approach and Landing Systems (JPALS), Navy Unmanned Combat Aerial Systems (UCAS), Unmanned Carrier-Launched Airborne Surveillance and Strike (UCLASS), Broad Area Maritime Surveillance (BAMS), War Fighter Networking, Unmanned Aircraft System/Ground Based Sense and Avoid, and Automated Aerial Refueling Support.
In total, the Pentagon has allotted $243.1 million in funding for this work. The six named companies are now authorized to bid against each other to fulfill task orders that will be funded from this large "pot" of money from now until the contract concludes in August 2018.
The article Pentagon Announces $243 Million Contract for Hi-Tech UAV Work originally appeared on Fool.com.
Fool contributor Rich Smith has no position in any stocks mentioned, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not 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.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.