QinetiQ Group plc has won a five year $224 million firm-fixed-price contract to provide mission support to the US Space Development Agency (SDA).
Steve Wadey, Group Chief Executive Officer, QinetiQ.
This contract builds on an existing strong customer relationship with the SDA, generating incremental growth on previous work. Under the five-year contract, QinetiQ will deliver management and professional services, acquisition support, engineering and technical assistance needed to deliver the Proliferated Warfighter Space Architecture programme. The QinetiQ team, along with its strategic partners, provide engineering services in support of SDA’s most critical space missions.
This contract is the largest competitive win for the Avantus business since QinetiQ’s acquisition in November last year and underpins our target of greater than 10% annual revenue growth from Avantus.
Steve Wadey, Group Chief Executive Officer of QinetiQ, said: “Securing this new contract is an important milestone in the delivery of the ambitious growth plan for our US business, including the excellent capabilities we acquired with Avantus last year.
"It demonstrates our strategy is working, providing confidence that we will deliver good returns, both organically and through acquisitions. We remain confident in our plan to deliver high single digit organic revenue growth at stable profit margins.”