Leonardo DRS wins $25 billion defense technology contract

Leonardo DRS Inc. (NASDAQ: DRS) received a contract award under the Advanced Technology Support Program V to support rapid deployment of emerging technologies for the U.S. military, the company announced.

The indefinite-delivery, indefinite-quantity contract has a total potential value exceeding $25 billion over ten years. Leonardo DRS is one of thirteen companies selected for the multiple award contract.

The contract positions Leonardo DRS to provide engineering solutions for next-generation electronic systems across areas including advanced sensing, computing, and integrated mission systems. The agreement also covers research and development in quantum computing, nanoelectronics, three-dimensional manufacturing methods, and submicron engineering for circuit design.

"This is an important contract vehicle that will provide another avenue for customers to swiftly access DRS's advanced technologies and engineering solutions," said John Baylouny, president and CEO of Leonardo DRS.

The IDIQ structure allows Leonardo DRS to compete for individual task orders throughout the contract's performance period. The company specializes in defense technologies including sensing systems, network computing, force protection, and electric power solutions.

The information is based on a company press release statement.

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