QinetiQ secures £127m Typhoon contract with UK MoD
QinetiQ Group disclosed a £127m contract from the UK Ministry of Defence (MoD) to provide engineering services for the Typhoon combat aircraft on Monday.
The FTSE 250 company said the contract was won through the Engineering Delivery Partner (EDP) framework, and was included in its announcement on 12 November that the total orders achieved through EDP since inception now exceeded £500m.
It said the order was a five year contract providing a range of services for Typhoon, from planning and acceptance through to regulatory assurance, trials support and optimisation of in-service capability.
QinetiQ said it would also provide expertise to the Typhoon radar development programme and data analytics for operational missions.
The board said the win signalled a “strong start”1 to the second half of the financial year for QinetiQ.
“Through EDP we provide essential engineering expertise to the UK MoD and are proud to contribute to the UK's critical defence capabilities through the Typhoon programme,” said group managing director of air and space, Nic Anderson.
“This significant contract takes total orders through EDP to over £500m since inception two years ago - an excellent example of our strategy in action, delivering significant savings and innovation for the UK MoD.”
At 0811 GMT, shares in QinetiQ were up 1.75% at 325.4p.