Naval Air Systems Command Awards Kratos Sole Source $49.6 Million Initial Contract for Full Rate Production (Lot 4) of the BQM-177A Subsonic Aerial Target System
24 February 2023 - 8:15AM
Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), a
leading National Security Solutions provider and industry-leading
provider of high-performance, jet-powered unmanned aerial systems,
announced today that Kratos has received a $49,568,200 Full Rate
Production (FRP) contract for Lot 4 of the BQM-177A Subsonic Aerial
Target (SSAT) from the U.S. Navy for the procurement of an
additional 55 aircraft, mission kits, certain flight consumables,
and technical data.
Kratos BQM-177A Subsonic Aerial Target is
launched from a ship during a recent training mission
is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/b78b901b-31db-481f-8c07-e7ffe5c08867
Steve Fendley, President of Kratos
Unmanned Systems Division, said, “Since becoming an aerial
target system provider in the early 2000s, Kratos has produced and
delivered well over 1,000 high performance jet target aircraft
across our family of systems and customers. For the U.S. Navy,
following the first full-rate production award in October 2020, the
combined Navy-Kratos team has completed activation of all four
operational sites around the globe; delivered an additional 77
BQM-177A SSAT Air Vehicles; and declared full operational
capability. To have achieved all of this during the pandemic – with
unprecedented labor and supply chain disruptions and a very unusual
economic environment – is nothing short of remarkable. Today’s
announcement marks the next step in our continuing efforts to
provide world class training capabilities to the U.S. Navy and its
allied and coalition partners for the next several decades and
beyond. I couldn’t be more proud of this team and its exceptional
achievements. We are laser-focused on the customer mission
capability and these incredibly high-performance-to-cost-ratio
systems that deliver key, threat representative capabilities to
support the Navy’s ever increasing (quantity, technical,
performance) training and test needs.”
Don Blottenberger, Program Manager for
the Navy’s Aerial Targets program office (PMA-208), said,
“The BQM-177 is quickly becoming a workhorse of the Navy targets
inventory. Target presentations have never been more important than
they are right now based on real world events and new capabilities
under development. It provides reliable presentations of evolving
missile and aircraft threats to test our developmental weapon
systems and provide training to our deploying sailors preparing to
go into harm’s way. The hard work of the team — one team across
Kratos and the Navy Aerial Targets office — will provide cost
effective, quality target presentations through the next
decade.”
The work under this contract will be primarily
conducted in Kratos’ facilities in Sacramento, CA, and Ft. Walton
Beach, FL. Total contract value if the options for Lots 5, 6, and 7
are all exercised at the maximum production quantities is
$227,647,890. About Kratos Defense &
Security SolutionsKratos Defense & Security Solutions,
Inc. (NASDAQ:KTOS) develops and fields transformative, affordable
technology, platforms and systems for United States National
Security related customers, allies, and commercial enterprises.
Kratos is changing the way breakthrough technology for these
industries are rapidly brought to market through proven commercial
and venture capital backed approaches, including proactive
research, and streamlined development processes. At Kratos,
affordability is a technology, and we specialize in unmanned
systems, satellite communications, cyber security/warfare,
microwave electronics, missile defense, hypersonic systems, small
to mid-sized jet engines and technology, training, and combat
systems. For more information go to 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
25, 2022, 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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