U.S. Navy Awards Leonardo DRS $235 Million Production Contract for AN/SPQ-9B Ship Protection Radar

ARLINGTON, Va.-(BUSINESS WIRE)-Oct. 31, 2024-
Leonardo DRS, Inc. (NASDAQ: DRS) announced today that it was awarded a contract from NAVSEA to produce ship-based air and surface target detection AN/SPQ-9B radars. The contract includes options, if exercised over five years, would bring the cumulative value to more than $235 million.

Under the contract, Leonardo DRS will manufacture, inspect, and test AN/SPQ-9B radars and associated spare kits.

"The SPQ-9B radar is a vital ship protection system used across the fleet, and we are proud that the U.S. Navy continues to entrust us to produce this important defensive technology," said Cari Ossenfort, senior vice president and general manager of the Leonardo DRS Naval Electronics business unit. "Our experienced team's ability to execute complex manufacturing and proven engineering processes are the key reasons we remain a trusted partner to NAVSEA and PEO Integrated Warfare Systems."

The AN/SPQ-9B is an X-band, pulse Doppler, frequency-agile radar which was designed specifically for the littoral environment with a low false track rate in high clutter situations. It scans out to the horizon and performs simultaneous and automatic air and surface target detection and tracking of low flying anti-ship cruise missiles, surface threats, and low/slow flying aircraft, UAVs, periscopes and helicopters.

This award builds upon our existing RF and EW systems capabilities and is an expansion of the support that DRS has provided for AN/SPQ-9B over the past six years. This work is an example of DRS's deep experience as a leader in complex design and manufacturing supporting a wide range of missions. The company's capabilities extend across all domains to support naval, ground, air, space, and cyber missions in areas of sensing, force protection, computer networking, as well as naval power and propulsion systems.

About Leonardo DRS

Headquartered in Arlington, VA, Leonardo DRS, Inc. is an innovative and agile provider of advanced defense technology to U.S. national security customers and allies around the world. We specialize in the design, development and manufacture of advanced sensing, network computing, force protection, and electric power and propulsion, and other leading mission-critical technologies. Our innovative people are leading the way in developing disruptive technologies for autonomous, dynamic, interconnected, and multi-domain capabilities to defend against new and emerging threats. For more information and to learn more about our full range of capabilities, visit www.LeonardoDRS.com.

Forward-Looking Statements

This communication contains statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Those statements reflect current expectations, assumptions and estimates of future performance and economic conditions. The company cautions investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements.

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Leonardo DRS Investor Relations

Steve Vather

Senior Vice President, Investor Relations and Corporate Finance

+1 703 409 2906

[email protected]

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Michael Mount

Vice President, Communications and Public Affairs

+1 571 447 4624

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Source: Leonardo DRS