FARNBOROUGH - Qinetiq Group PLC, a global defense and security company based in Farnborough, UK, has secured a significant contract through its subsidiary Avantus for the Tethered Aerostat Radar System (TARS) with the US Department of Homeland Security. The $170 million deal marks a substantial achievement for Avantus, being its largest contract since being acquired by Qinetiq.
This five-year agreement will enhance the detection and monitoring capabilities along US borders. The comprehensive TARS contract includes aerostat operations, air-surface radar tasks, lifecycle and program management, as well as data networking systems monitoring and analysis. These efforts are critical for bolstering border security and maintaining air sovereignty.
The new contract boosts Avantus's annual new awards to $827 million, reflecting the company's growing influence in border security operations. Despite this significant win, Qinetiq observed a slight dip in its share price by 0.9% to 319 pence. Nevertheless, the company remains optimistic about its prospects in the US market, expecting up to $1.5 billion in potential business over the next five years as it expands its customer base and establishes itself as a disruptive mid-tier business in the defense sector.
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