Kratos Receives $57.6 Million Contract for 70 BQM-177A Aerial Targets
March 18 2024 - 8:00AM
Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS),
a Technology Company in the Defense, National Security
and Global Markets and industry-leading provider of
high-performance, jet-powered unmanned aerial systems, announced
today that its Unmanned Systems Division has received a $57,673,542
modification to a previously awarded firm-fixed-price contract.
This modification exercises options to procure full rate production
Lot Five of the BQM-177A Surface Launched Aerial Targets to provide
for the production and delivery of 70 BQM-177A Surface Launched
Aerial Targets and 70 Rocket-Assisted Takeoff attachment kits, as
well as associated technical and administrative data in support of
weapons system test, and evaluation and fleet training for the
Navy.
Kratos BQM-177A Shipboard Launch
A photo accompanying this announcement is
available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/d9916314-cd45-49cf-b0e0-d22296646070
Steve Fendley, President of Kratos
Unmanned Systems Division, said, “It’s exciting to be a
major part of this critically important capability for the U.S.
Navy with our BQM-177A Sub-Sonic Aerial Target (SSAT) aircraft
system (target). The 177A continues to push the envelope delivering
leading edge realistic threat-representative capabilities to
support today’s peer-level threat environment. We look forward to
the increased production rate and continuing to evolve the system
with our customer as the threats evolve.”
Greg Crewse, Program Manager for the
Navy’s Aerial Targets program office (PMA-208), said, “In
partnership with the Navy Aerial Targets program office, Kratos
Defense and the BQM-177A Air Vehicle are true assets to
the Navy and, together, we have the opportunity to engage
in critical training exercises that will prepare our personnel to
face a multitude of scenarios in a challenging, cost-effective test
environment prior to engaging real-world threats, should the need
arise. As recent real-world events have proven, these target
presentations are growing ever more critical to prepare our
warfighters to go into harm’s way – and prevail.”
About Kratos Defense & Security
Solutions, Inc.Kratos Defense & Security Solutions,
Inc. (NASDAQ: KTOS) is a technology, products, system and
software company addressing the defense, national security, and
commercial markets. Kratos makes true internally funded research,
development, capital and other investments, to rapidly develop,
produce and field solutions that address our customers’ mission
critical needs and requirements. At Kratos, affordability is a
technology, and we seek to utilize proven, leading-edge approaches
and technology, not unproven bleeding edge approaches or
technology, with Kratos’ approach designed to reduce cost, schedule
and risk, enabling us to be first to market with cost effective
solutions. We believe that Kratos is known as an innovative
disruptive change agent in the industry, a company that is an
expert in designing products and systems up front for successful
rapid, large quantity, low-cost future manufacturing which is a
value-add competitive differentiator for our large traditional
prime system integrator partners and also to our government and
commercial customers. Kratos intends to pursue program and
contract opportunities as the prime or lead contractor when we
believe that our probability of win (PWin) is high, and any
investment required by Kratos is within our capital resource
comfort level. We intend to partner and team with a large,
traditional system integrator when our assessment of PWin is
greater or required investment is beyond Kratos’ comfort level.
Kratos’ primary business areas include virtualized ground systems
for satellites and space vehicles including software for command
& control (C2) and telemetry, tracking and control (TT&C),
jet powered unmanned aerial drone systems, hypersonic vehicles and
rocket systems, propulsion systems for drones, missiles, loitering
munitions, supersonic systems, space craft and launch systems,
C5ISR and microwave electronic products for missile, radar, missile
defense, space, satellite, counter UAS, directed energy,
communication and other systems, and virtual & augmented
reality training systems for the warfighter. For more information,
visit www.KratosDefense.com.
Notice Regarding Forward-Looking
StatementsCertain statements in this press release may
constitute "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements are made on the basis of the current
beliefs, expectations and assumptions of the management of Kratos
and are subject to significant risks and uncertainty. Investors are
cautioned not to place undue reliance on any such forward-looking
statements. All such forward-looking statements speak only as of
the date they are made, and Kratos undertakes no obligation to
update or revise these statements, whether as a result of new
information, future events or otherwise. Although Kratos believes
that the expectations reflected in these forward-looking statements
are reasonable, these statements involve many risks and
uncertainties that may cause actual results to differ materially
from what may be expressed or implied in these forward-looking
statements. For a further discussion of risks and uncertainties
that could cause actual results to differ from those expressed in
these forward-looking statements, as well as risks relating to the
business of Kratos in general, see the risk disclosures in the
Annual Report on Form 10-K of Kratos for the year
ended December 31, 2023, and in subsequent reports on Forms
10-Q and 8-K and other filings made with the SEC by
Kratos.
Press Contact:Yolanda White858-812-7302
Direct
Investor
Information:877-934-4687investor@kratosdefense.com
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