Credit: Shutterstock photoGeneral Dynamics CorporationGD has won a contract from the UK Ministry of Defense to provide upgrades for the Bowman tactical communications systems used by the British Armed Forces. The contract is valued at approximately $192.7 million (£135 million).
Per the contract, General Dynamics will reinstate 12,000 data terminals and update the present version of the battle management system. This will ensure ease of use, more reliable and rapid data services, and enhanced interoperability. The enhanced equipment deliveries will commence in 2018.
The latest contract, known as BCIP5.6, will add 50 new positions to the 20 highly skilled engineers presently working at the company's UK headquarters in Oakdale, South Wales.
According to the company, the BCIP5.6 contract is aimed to provide the British Armed Forces access to the top tactical communication systems.
Bowman system, developed and integrated by General Dynamics UK, is a tactical communications system that integrates digital voice with data technology to deliver secure radio, telephone, intercom and tactical internet services. The Bowman's secure radio communications have been in use since 2005.
General Dynamics engages in mission-critical information systems and technologies; land and expeditionary combat vehicles, armaments and munitions; shipbuilding and marine systems; and business aviation. The company's revenues are derived from a broad portfolio of products and services that help to keep the overall growth momentum steady. The company has been consistently increasing sales from its non-U.S.-based sources. In 2015, 26% of its consolidated revenues came from international sources, up from 25% in 2014.
Zacks Rank & Key Picks
General Dynamics currently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the aerospace and defense equipment industry include HEICO Corporation HEI , AeroVironment, Inc. AVAV and Spirit AeroSystems Holdings, Inc. SPR . While HEICO Corporation sports a Zacks Rank #1 (Strong Buy), both AeroVironment and Spirit AeroSystems hold a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days . Click to get this free report >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
GENL DYNAMICS (GD): Free Stock Analysis Report
SPIRIT AEROSYS (SPR): Free Stock Analysis Report
AEROVIRONMENT (AVAV): Free Stock Analysis Report
HEICO CORP (HEI): Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
