Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading National Security Solutions provider, announced today that it has received a sole source, single award contract from Swedish Defense Materiel Administration (FMV) for Kratos’ MQM-178 Firejet aerial target aircraft and associated ground support equipment, spares, payloads, components, expendables, and support services. The first order under this new 3-year Indefinite Delivery Indefinite Quantity (IDIQ) contract award is expected in the next 60 days. Additionally, there are two 3-year exercisable option periods for a total potential contract performance term of 9 years. Annual buys are anticipated for Firejet Target aircraft plus associated products and services; making this the second international, sole-source, multi-year contract received in recent months for the Firejet system. Kratos is a leading provider of high performance, jet powered unmanned aerial drone systems for tactical and target threat representation purposes. Work under this contract will be performed at secure Kratos facilities, and customer locations.
At the high performance end of the low cost/affordable jet aerial target market, Kratos’ Firejet delivers unmatched fighter-like performance and versatility, representing the most lethal airborne threats of the United States and its Allies’ potential adversaries. Kratos’ Firejet provides the opportunity for customers to test multiple weapon systems with a single flexible and affordable high performance unmanned aerial target drone system. Firejet supports both surface-to-air and air-to-air engagements with a combination of internal and external mission payloads. Part of the affordability equation for Firejet is the pneumatic launch method which substantially reduces per-flight costs as compared to the legacy larger target drone aircraft.
Steve Fendley, Unmanned Systems Division President of Kratos, said, “We’re thrilled about this contract and associated opportunity to continue to support our valued customer, the Swedish FMV. The FMV is a global leader in Range operations, supporting friendly forces from all over the world that deploy to this international location for test and training activities. This partnership enables the FMV to increase their service provision to the global defense customer community, and it increases the availability of Kratos high performance aerial target drones even to customers whose mission rate would not support their in-country provision of an aerial target system – the epitome of a Win-Win-Win. This new contract marks yet another milestone in Kratos’ already impressive penetration into international markets and helps secure our systems’ position as a long-term target drone solution for the international community.”
Eric Demarco, President and CEO of Kratos, said, “The global recapitalization of strategic weapon systems to address peer and near peer threats of the United States and our Allies, and the need to test and exercise these systems is driving significant increased demand for Kratos high performance target drone and ballistic missile target systems. We now have multiple long term target drone programs beginning, ramping or entering full rate production, all of which are expected to be key long term growth drivers for our company.”
Source: Kratos Defense & Security Solutions
Date: Nov 7, 2018