Orbital ATK Receives $123 M for Artillery Precision Guidance Kit from US Army

Orbital ATK (NYSE: OA), a global leader in aerospace and defense technologies, announced today that the U.S. Army has placed an additional $123 million in orders under production contract Option 2 for the Precision Guidance Kit (PGK) that will continue to deliver PGK’s to the warfighter. Orbital ATK had previously signed a $69 million production option in July 2016 under the same Option 2.

PGK enhances accuracy through Orbital ATK’s innovative design, which combines guidance and fuze function for conventional 155mm artillery projectiles into one affordable, GPS-guided device, giving the warfighter the precision necessary to reduce the risk of collateral damage when engaging high-value targets. By replacing a standard fuze with Orbital ATK's PGK, artillery projectiles are reliably delivered to within 50 meters of the intended target whereas conventional artillery dispersion can be 200 meters. During recent lot acceptance tests, randomly selected PGK fuzes met all acceptance criteria for accuracy and reliability while also performing required fuze functions with a perfect safety record.

“PGK has consistently demonstrated its reliability, performance and safety,” said Dan Olson, Vice President and General Manager for Orbital ATK’s Armament Systems Division of the Defense Systems Group. “The PGK has been rigorously tested, but the ultimate performance test has been proven on the battlefield as our soldiers have used it to deliver responsive, accurate strikes.”

Orbital ATK’s Defense Systems Group is an industry leader in providing innovative and affordable precision and strike weapons, advanced propulsion and hypersonics, missile components across air-, sea- and land-based systems, ammunition and related energetic products

Source: Orbital ATK, Inc.
Date: Sep 19, 2017