Kratos Receives $17.6 M Sole-Source Contract Award for New Tactical Jet Drone System Research, Development and Initial Production

October 01, 2019

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Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading National Security Solutions provider, announced today that its Unmanned Systems Division has been awarded an initial $17.6 million sole-source contract for Jet Drone research, development, and production efforts. Work on this new contract award is expected to begin immediately, with the scope of work and related funding under this program expected to increase as execution and performance milestones are successfully achieved.

Kratos is a leading provider of high performance unmanned aerial drone systems for threat representative target missions to exercise weapon, radar, and other systems; and tactical aerial drone systems for strike/ISR and force multiplication missions. Work under this contract award will be performed primarily at the Kratos Unmanned Systems Division facilities in Sacramento, California.  Due to competitive, customer related and other considerations, no additional information will be provided related to this new contract award.

Steve Fendley, President of Kratos Unmanned Systems Division, said, “This exciting new contract award affords us the opportunity to continue expanding and evolving our tactical Unmanned Aircraft Systems portfolio and capability.  We continue to secure research, development, technology advancement and new system contracts even as our production contracts grow; ideal for enabling us to remain on the leading edge of low cost, high performance drone technology, while we increase our production system numbers.”

Eric DeMarco, President and CEO of Kratos, said, “Kratos continues to be the recognized and go to leader for the rapid development, demonstration, and production of affordable, leading technology, high performance, jet powered unmanned aerial drone systems.  Our entire organization is proud to have been awarded this contract from this critically important national security customer.”

Source : Kratos Defense & Security Solutions