Leonardo DRS Wins $500 Million U.S. Defense Contract for Counter-Drone Tech
Defense contractor Leonardo DRS, Inc. (DRS) was awarded an indefinite-delivery/indefinite-quantity contract worth up to $500 million over three years from Joint Interagency Task Force 401. Under the agreement, the defense technology firm is eligible to compete for task orders to quickly deliver counter-unmanned aerial systems sensing technologies for force protection and low-altitude air defense missions.
The contract aims to accelerate the deployment of vetted counter-drone solutions to military operators as low-altitude aerial threats evolve. Leonardo DRS manufactures combat-proven radar and sensing equipment used for tracking threats such as drones, rockets, artillery, and mortars.
Shares of Leonardo DRS, Inc. were down 1.29% to $35.16 following the announcement. Investors will watch how effectively the company converts this $500 million ceiling into specific task orders over the three-year performance period.
Key points
- Leonardo DRS received a $500 million ceiling contract from Joint Interagency Task Force 401.
- The three-year deal allows the company to compete for task orders delivering counter-drone sensing technologies.
- The equipment will support force protection and low-altitude air defense missions against evolving threats.
- Shares of Leonardo DRS traded down 1.29% to $35.16 after the announcement.
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How we writeDisclaimerQuestions and answers
What contract did Leonardo DRS receive?
Leonardo DRS was awarded a $500 million ceiling contract over three years from Joint Interagency Task Force 401 to provide counter-unmanned aerial systems sensing technology.
What will Leonardo DRS deliver under the contract?
The company will compete for task orders to supply integrated radar and sensing capabilities for force protection and low-altitude air defense.