tiprankstipranks
Trending News
More News >
Advertisement
Advertisement

L3Harris Technologies awarded $999M U.S. Navy contract

3Harris Technologies was awarded an indefinite-delivery/indefinite-quantity contract with a maximum potential value of $998,828,164 for the production, retrofits, development and sustainment of the Multifunctional Information Distribution System Joint Tactical Radio Systems terminals. Currently there are three variants of MIDS JTRS terminals: the Concurrent Multi-Netting-4, the Tactical Targeting Network Technology and the F-22 variant. These terminals will continue to be procured, sustained, and updated for future growth. Funds in the amount of $123,054,277 will be placed on contract and obligated on the first delivery order concurrent with contract award, which will meet the minimum order requirement. Fiscal 2024 aircraft procurement (Navy) funding in the amount of $34,416,320; other procurement (Navy) funding in the amount of $3,232,196; ship construction procurement (Navy) funding in the amount of $1,319,424; research development test and evaluation (Navy) funding in the amount of $1,647,166, will be obligated at time of award and will not expire at the end of the current fiscal year.

Meet Your ETF AI Analyst

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Disclaimer & DisclosureReport an Issue

1