Defense & Military
Coherent Sells Aerospace and Defense Unit to Advent for 400 Million
Coherent divests its Aerospace and Defense business to Advent International for $400 million, focusing on core photonics growth markets.
Coherent’s Strategic Divestiture: A $400 Million Aerospace and Defense Transaction Reshapes Photonics Industry Landscape
The photonics industry witnessed a significant strategic realignment on August 13, 2025, when Coherent Corp. announced its definitive agreement to sell its Aerospace and Defense business unit to Advent International for $400 million. This transaction represents a pivotal moment in the ongoing consolidation and specialization within the defense technology sector, as companies seek to optimize their portfolios amid rapidly evolving market dynamics. The deal, which involves approximately 550 employees across 10 geographic sites, is expected to close in the third quarter of 2025 and will see the business unit operate under a new name following completion. The transaction underscores broader industry trends toward strategic focus, with companies divesting non-core assets to concentrate resources on high-growth market segments, while private equity firms continue their aggressive pursuit of defense and national security assets.
This divestiture comes at a time when the global military laser systems market is experiencing robust growth, valued at $6.52 billion in 2024 and projected to reach $12.47 billion by 2033, creating an attractive environment for specialized defense technology acquisitions. The move highlights how both established technology companies and private equity investors are recalibrating their strategies to capture value in a rapidly evolving landscape.
Transaction Overview and Strategic Framework
The announcement of Coherent’s decision to divest its Aerospace and Defense business represents a carefully orchestrated strategic maneuver designed to streamline the company’s operations and enhance shareholder value. The $400 million transaction with Advent International reflects both the inherent value of the defense-focused business unit and the current market appetite for specialized military technology assets. Under the terms of the definitive agreement, Advent will acquire the entire Aerospace and Defense division, which specializes in designing and manufacturing optical and laser systems for defense applications, marking a significant addition to the private equity firm’s growing portfolio of national security investments.
The timing of this transaction is particularly noteworthy, occurring just one month after Coherent reported exceptional fiscal year 2025 results with record annual revenue of $5.81 billion, representing a 23% year-over-year increase. This strong financial performance provided Coherent with the flexibility to pursue strategic portfolio optimization from a position of strength rather than distress, allowing management to command premium valuations for non-core assets. The proceeds from the sale will be immediately deployed to reduce the company’s debt burden, creating immediate accretive effects to earnings per share and strengthening the balance sheet for future growth initiatives.
Jim Anderson, who assumed the role of Chief Executive Officer in June 2024, has articulated a clear vision for concentrating Coherent’s efforts on core growth markets and products that leverage the company’s fundamental strengths in photonics technology. This strategic pivot represents a departure from the more diversified approach that characterized the company in previous years, instead embracing a focused strategy that prioritizes markets where Coherent can achieve dominant positions and superior returns on invested capital.
“This transaction further advances our strategy to concentrate efforts on core growth markets and products,” said Jim Anderson, CEO of Coherent Corp. “We believe this focus will drive higher long-term value for our shareholders and customers.”
Strategic Rationale and Corporate Transformation
The decision to divest the Aerospace and Defense business unit represents a fundamental strategic reorientation for Coherent, reflecting broader industry trends toward specialization and core competency focus. Anderson’s strategic vision, implemented since his appointment as CEO, centers on the premise that Coherent can achieve superior returns by concentrating its resources and expertise on markets where its photonics leadership provides sustainable competitive advantages. This approach is a significant departure from the conglomerate-style diversification that characterized many technology companies in previous decades.
The strategic portfolio optimization process that led to this divestiture reflects sophisticated corporate strategy thinking that considers not only the intrinsic value of individual business units but also their strategic fit within the broader organizational framework. Anderson’s statement about the transaction as furthering the company’s strategy to “concentrate efforts on core growth markets and products” suggests a disciplined approach to capital allocation that prioritizes businesses where Coherent can achieve market leadership positions. This is particularly relevant in the rapidly evolving photonics industry, where technological change creates both opportunities and threats that require concentrated expertise and resources to navigate successfully.
The financial implications of this strategic reorientation extend beyond the immediate $400 million in proceeds, encompassing broader operational efficiency gains and improved capital allocation flexibility. Managing a diverse portfolio of businesses across different end markets requires significant corporate overhead and management attention, resources that can be redirected toward core growth initiatives following the divestiture. The reduction in organizational complexity should also enable more rapid decision-making and innovation cycles, critical advantages in fast-moving technology markets.
Company Profiles and Leadership Dynamics
Coherent Corp. has emerged as a global leader in photonics technology through a combination of organic growth, strategic acquisitions, and transformative mergers. The company’s current structure results from the 2022 merger between II-VI Incorporated and the original Coherent Inc., a $6.56 billion transaction that created a vertically integrated photonics leader. The leadership transition that brought Jim Anderson to the CEO role in June 2024 marks a significant shift in strategic direction and operational focus for Coherent. Anderson’s prior experience in the semiconductor industry, including executive roles at Lattice Semiconductor and AMD, provides him with a strong background in managing technology companies through periods of strategic transformation.
Advent International brings complementary capabilities and strategic perspective to the acquisition. As a leading global private equity investor with approximately $94 billion in assets under management, Advent has developed particular expertise in the aerospace and defense sector through a series of high-profile investments, including Maxar Technologies, Ultra Electronics, and Cobham. Shonnel Malani, Advent’s Managing Partner leading this transaction, has built the firm’s global aerospace and defense practice, advising on numerous investments in the sector.
The involvement of Rory McMahon, Vice President at Advent, adds operational expertise to the transaction team. McMahon’s background as a consultant at Bain & Company and experience in private equity secondaries provides him with the skills to support the strategic development of the acquired defense business. Both executives have emphasized plans to invest in R&D and expand production capabilities, signaling Advent’s commitment to long-term value creation in the defense technology sector.
Market Dynamics and Industry Landscape
The global military laser systems market is experiencing rapid growth, with a valuation of $6.52 billion in 2024 and projections indicating expansion to $12.47 billion by 2033. This growth is driven by rising defense budgets, increasing demand for precision targeting systems, and the evolution of directed energy weapons technology. North America dominates the market with a 37.8% share in 2024, reflecting the region’s substantial defense spending and established base of contractors.
Key applications for military laser systems include directed energy weapons, laser-guided munitions, and advanced targeting systems. These require sophisticated optical components and laser sources, areas where Coherent’s former Aerospace and Defense business has established expertise. The precision offered by laser systems reduces collateral damage and increases mission success rates, making these technologies valuable in complex operational environments.
The broader aerospace and defense industry is also undergoing transformation, driven by geopolitical tensions, technological advancement, and changing operational requirements. Global defense spending rose nearly 10% in 2024, the fastest rate in four decades, while commercial aerospace markets are projected to require more than 40,000 new aircraft over the next 20 years. Companies that provide advanced technology solutions in precision manufacturing, advanced materials, and optical systems are well-positioned to benefit from these trends.
“The military laser systems market is projected to nearly double over the next decade, driven by increasing global defense spending and technological innovation,” according to industry analysis.
Financial Implications and Performance Context
The $400 million transaction value for Coherent’s Aerospace and Defense business reflects both the intrinsic value of the unit and the current market for specialized defense technology assets. The proceeds will be used to reduce debt, with the company expecting immediate accretive effects on earnings per share. This decision aligns with Coherent’s broader deleveraging strategy, following a $437 million debt reduction in fiscal 2025 enabled by improved operating cash flow.
Coherent’s strong financial performance provides context for the transaction. The company reported record annual revenue of $5.81 billion for fiscal 2025, a 23% year-over-year increase, and improved non-GAAP earnings per share. The company’s guidance for the first quarter of fiscal 2026 anticipates revenue between $1.46 billion and $1.60 billion, excluding approximately $20 million from the Aerospace and Defense business, reflecting a modest near-term impact from the divestiture.
For Advent, the $400 million investment is relatively modest compared to other recent aerospace and defense transactions but is justified by the specialized nature and strategic importance of the business. Advent’s established platform in the sector, including investments in Maxar Technologies, Cobham, and Ultra Electronics, creates opportunities for operational synergies and best practice sharing. This platform approach enables operational improvements and growth acceleration that may not be available to standalone companies.
Integration Challenges and Operational Considerations
The successful completion of the acquisition will require careful attention to integration planning and operational continuity, particularly given the unique regulatory and security requirements of the defense industry. Defense contracts often involve security clearances, specialized personnel certifications, and ongoing program commitments that necessitate meticulous planning to ensure uninterrupted service delivery. The involvement of approximately 550 employees across 10 geographic sites adds complexity to the integration process.
The defense industry’s regulatory environment creates additional challenges for ownership transitions, requiring coordination with government customers and authorities. Advent’s experience in the sector provides valuable expertise in navigating these requirements and maintaining necessary security clearances and certifications. The preservation of existing management teams and operational structures is critical to maintaining customer relationships and ongoing program execution.
The commitment to significant research and development investments, as emphasized by Advent executives, is a critical component of long-term value creation. Rory McMahon’s statement about providing resources to accelerate production capacity and pursue next-generation opportunities suggests that Advent intends to increase investment levels beyond what may have been feasible within Coherent’s diversified structure. This is particularly important in the defense technology sector, where innovation cycles determine long-term competitive positioning.
Strategic Implications for Competitive Landscape
This transaction reflects broader competitive dynamics within the photonics and defense technology sectors. The trend toward strategic specialization that Coherent is pursuing highlights the importance of focused expertise and resources in achieving leadership positions. Private equity’s growing role in the sector underscores the financial and operational improvements that specialized investors can provide to technology companies serving government markets.
The increasing importance of optical and laser technologies in modern defense systems creates opportunities for specialized companies. The business Advent is acquiring operates in high-growth markets, including directed energy weapons, precision targeting, and advanced sensing applications. The specialized nature of these applications creates barriers to entry and switching costs that support sustained profitability.
The successful completion of this transaction may encourage similar strategic reviews and portfolio optimization efforts across the photonics industry. The premium valuation achieved for Coherent’s Aerospace and Defense business may prompt other diversified technology companies to consider strategic alternatives for non-core business units, especially where specialized buyers can provide superior support.
Future Outlook and Strategic Positioning
The completion of Advent’s acquisition is expected to enhance the strategic positioning of the acquired business unit and the broader competitive landscape within the defense optical systems market. Under Advent’s ownership, the business will benefit from increased investment capacity and strategic flexibility, enabling accelerated development of next-generation technologies and expanded production capabilities to meet growing demand.
The market opportunity for military laser systems and optical technologies continues to expand as defense applications become more sophisticated. The projected growth from $6.52 billion in 2024 to $12.47 billion by 2033 provides multiple avenues for growth for companies with established technology capabilities and customer relationships. The combination of established capabilities and increased investment resources positions the business to capture a significant share of these emerging opportunities.
Conclusion
The $400 million divestiture of Coherent’s Aerospace and Defense business to Advent International represents a significant strategic realignment that reflects broader industry trends toward specialization and focused competency development. This transaction demonstrates how established technology companies are prioritizing strategic focus over diversification, while private equity investors continue to recognize the value of specialized defense technology businesses. The deal provides a compelling case study in corporate portfolio optimization and the role of private equity in supporting the development of specialized technology companies serving national security applications.
The long-term success of this transaction will depend on the acquired business’s ability to capitalize on growing market opportunities while maintaining operational excellence and customer relationships. With increased investment resources and strategic flexibility under Advent’s ownership, the business appears well-positioned to capture market share and technological advancement opportunities that create value for all stakeholders involved in this strategic transformation.
FAQ
Question: What is the value of the Coherent-Aerospace and Defense divestiture to Advent International?
Answer: The transaction is valued at $400 million.
Question: When is the transaction expected to close?
Answer: The deal is expected to close in the third quarter of 2025, subject to regulatory approvals and customary closing conditions.
Question: How many employees are affected by the divestiture?
Answer: Approximately 550 employees across 10 geographic sites will be transferred to Advent International as part of the transaction.
Question: What will Coherent do with the proceeds from the sale?
Answer: Coherent plans to use the proceeds to reduce debt, resulting in immediate accretive effects on earnings per share and strengthening the company’s balance sheet.
Question: Why did Coherent decide to divest its Aerospace and Defense business?
Answer: The divestiture is part of a strategic portfolio optimization to focus on core growth markets and products where Coherent has sustainable competitive advantages in photonics technology.
Sources:
Coherent Corp. | GlobeNewswire,
Coherent Press Release
Photo Credit: Coherent
Defense & Military
U.S. Army Names MV-75 Cheyenne II as Future Long Range Assault Aircraft
The U.S. Army designates the MV-75 Cheyenne II, a Bell Textron tiltrotor, to replace the Black Hawk with enhanced speed, range, and payload.
This article is based on an official press release from the U.S. Army.
The U.S. Army has officially designated its next-generation Future Long Range Assault Aircraft (FLRAA) as the MV-75 “Cheyenne II.” The announcement was made on April 15, 2026, during the Army Aviation Association of America’s annual conference in Nashville, Tennessee, marking a significant milestone in the modernization of military rotary-wing aviation.
Developed by Bell Textron, the MV-75 is a medium-sized, multi-role tiltrotor aircraft designed to eventually replace the aging UH-60 Black Hawk fleet. According to the official Army press release, the new platform is engineered to fly twice as far and twice as fast as the current rotary aviation fleet, combining the vertical versatility of a Helicopters with the speed and range of a fixed-wing airplane.
The naming convention honors the Cheyenne tribes, continuing a long-standing Army tradition of naming helicopters after Native American peoples. Furthermore, the “II” designation pays homage to the AH-56 Cheyenne, an advanced 1960s attack helicopter program that, while ultimately canceled, pioneered high-speed rotorcraft concepts that the MV-75 now brings to fruition.
Unpacking the MV-75 Cheyenne II Capabilities
Speed, Range, and Payload
While the Army’s press release highlights the aircraft’s ability to double the performance of legacy fleets, supplementary industry research provides specific performance metrics. The MV-75, which is the military variant of the Bell V-280 Valor, is capable of cruising at 280 knots (approximately 320 mph) and can achieve a top speed exceeding 300 knots, according to industry data.
Research reports indicate the aircraft features a maximum range of 2,100 nautical miles, with an effective combat range between 500 and 800 nautical miles. In terms of payload, the Cheyenne II is designed to carry a crew of four alongside up to 14 fully equipped troops. It also boasts dual cargo hooks with a 10,000-pound external lift capacity, which industry specifications note is sufficient to transport an M777A2 Howitzer.
Technological Framework and Industry Partners
The Army states that the MV-75 is built on a Modular Open Systems Approach (MOSA) featuring a plug-and-play digital backbone. This architecture is intended to allow seamless integration of advanced technologies throughout the aircraft’s lifecycle. The platform also incorporates fly-by-wire technologies and advanced autonomy to meet the demands of future battlefields.
To support this advanced framework, Bell Textron has engaged key industry partners. According to recent industry announcements, Collins Aerospace was awarded Contracts to supply five primary systems for the MV-75, including main power generation, interconnect drive, SmartProbe air data, cockpit seating, and ice protection systems. Troy Brunk, President of Collins Aerospace, noted in a statement that the company is committed to helping Bell accelerate delivery and sustain the aircraft for its projected 50-year lifecycle.
Strategic Implications and Fielding Timeline
Accelerated Fielding for the Joint Force
The U.S. Army is actively pushing to field the MV-75 as rapidly as possible. Industry research indicates that the 101st Airborne Division out of Fort Campbell, Kentucky, is expected to be the first unit to receive the aircraft. While initial projections targeted fielding between 2027 and 2030, Army officials have expressed a desire to accelerate this timeline.
“This aircraft will revolutionize how the Army fights and wins, delivering unmatched capabilities to the Joint Force and ensuring we maintain a decisive advantage on the battlefield.”
, MG Clair Gill, Portfolio Acquisition Executive
Honoring the Cheyenne Legacy
The Army evaluated over 500 nominations before selecting the name “Cheyenne II.” The name honors the adaptability, resilience, and warrior culture of the Cheyenne people, who inhabited the Great Plains for over 400 years. Today, the heritage is carried on by the federally recognized Northern Cheyenne Tribe in Montana and the Cheyenne and Arapaho Tribes in Oklahoma.
“The Cheyenne people represent a resilient warrior culture and embody the key attributes of the MV-75, speed, reach, lethality, and adaptability.”
, HON Brent Ingraham, Army Acquisition Executive
Col. Jeffrey Poquette, Project Manager for the MV-75, added in the press release that the Army is honored to have the Cheyenne tribes’ approval to use their name for a platform that will provide unparalleled versatility to the Joint Force.
AirPro News analysis
We view the official naming and advancement of the MV-75 Cheyenne II as a definitive doctrinal shift for U.S. Army aviation. The transition from traditional single-main-rotor helicopters like the UH-60 Black Hawk to tiltrotor technology is not merely an equipment upgrade; it is a strategic necessity dictated by the realities of modern multi-domain operations.
The vast maritime and island geographies of the Indo-Pacific theater render legacy rotorcraft highly vulnerable due to their limited range and reliance on forward staging bases. By fielding an aircraft that can cruise at 280 knots with a combat radius of up to 800 nautical miles, the Army is effectively compressing enemy reaction times and enabling long-range air assaults from safer, dispersed locations. Furthermore, the integration of a digital backbone designed for manned-unmanned teaming suggests that the Cheyenne II will serve as a central node in future networked combat environments, rather than just a troop transport.
Frequently Asked Questions
What does “MV-75” stand for?
According to industry research, “MV” stands for Multi-Mission Vertical Takeoff, while the number “75” commemorates 1775, the year the U.S. Army was founded.
Who manufactures the MV-75 Cheyenne II?
The aircraft is manufactured by Bell Textron and is the Military-Aircraft variant of the Bell V-280 Valor, which won the FLRAA contract in December 2022.
Why is it called the Cheyenne “II”?
The “II” pays homage to the AH-56 Cheyenne, an advanced, high-speed attack helicopter developed in the late 1960s. While that program was canceled, its legacy of speed and innovation inspired the naming of the new tiltrotor platform.
Sources: U.S. Army Press Release, Supplementary Industry Research Report.
Photo Credit: U.S. Army
Defense & Military
Sikorsky Launches Armed Black Hawk Helicopter Kits for Multirole Use
Sikorsky offers new modular Armed Black Hawk kits enabling rapid role changes for assault, close support, medevac, ISR, and tactical lift missions.
This article is based on an official press release from Lockheed Martin.
Sikorsky Unveils New Armed Black Hawk Helicopter Kits for Multirole Missions
Sikorsky, a Lockheed Martin company, has announced the availability of new Armed Black Hawk Helicopters kits designed to significantly expand the operational capabilities of the widely used airframe. According to an official press release published on April 15, 2026, the new kits allow a single aircraft to perform a diverse array of missions. These include airmobile assault, close support, medical evacuation, intelligence, surveillance, and reconnaissance (ISR), as well as tactical lift.
By consolidating these varied capabilities into one battle-tested platform, the Manufacturers aims to provide military commanders with increased flexibility on the modern battlefield. The company noted in its announcement that this multirole approach eliminates the need to maintain separate fleet types for different mission profiles, potentially streamlining logistics and reducing overall acquisition and sustainment costs.
Enhancing Fleet Versatility and Readiness
The newly introduced kits are engineered for rapid deployment and adaptability in the field. Sikorsky states that ground units can reconfigure the aircraft for different roles in just three hours, allowing for swift responses to rapidly changing tactical requirements.
Operators have the option to select from two production-ready kits tailored specifically for either close support or precision strike capabilities. The manufacturer highlighted that these modular armament wings can be integrated immediately into existing fleets or added as an upgrade at a later date, providing procurement flexibility.
“The new Armed Black Hawk kits give warfighters one aircraft that can do it all: a single, versatile, combat-proven platform where ground units can quickly switch out the commercially-produced kits, keeping mission readiness high,”
said Rich Benton, Sikorsky Vice President and General Manager, in the company’s press release.
Procurement and Long-Term Sustainment
To facilitate global access for allied nations, the Armed Black Hawk kits are available through both Foreign Military Sale (FMS) and Direct Commercial Sale (DCS) channels. For FMS fleets, integration is supported directly by Lockheed Martin in the United States. Alternatively, direct commercial sales can be installed by PZL Mielec, a Lockheed Martin subsidiary based in Poland.
The company emphasized the long-term viability of the platform, projecting Black Hawk operations to continue well beyond the year 2070. This extended lifecycle, supported by a robust global Supply-Chain, is expected to deliver meaningful savings in both maintenance and training over the aircraft’s extended service life.
AirPro News analysis
We note that the push toward modular, multi-role capabilities reflects a broader trend in global defense procurement. Militaries are increasingly seeking platforms that can adapt to various mission sets without the financial and logistical burden of maintaining highly specialized, single-purpose fleets. By offering modular upgrades, defense contractors can extend the relevance of legacy airframes in an era of constrained defense budgets.
The Black Hawk has been a continuously evolving platform since the introduction of the “M” model in 2006. By offering these new kits, Sikorsky is leveraging its extensive experience, particularly in supporting armed fleets in the Middle East, to keep the aircraft relevant in modern, multi-domain operations. The integration of higher output engines and digital architectures mentioned by the company further underscores the industry’s focus on modernizing proven platforms rather than relying solely on clean-sheet designs.
Frequently Asked Questions (FAQ)
What missions can the new Armed Black Hawk kits support?
According to the manufacturer’s press release, the kits enable the helicopter to perform airmobile assault, close support, medical evacuation, ISR, and tactical lift missions.
How long does it take to reconfigure the aircraft?
Sikorsky states that the modular kits allow for a rapid three-hour mission reconfiguration, enabling ground crews to quickly adapt the aircraft for different roles.
How can international operators acquire these kits?
The kits are available via Foreign Military Sale (FMS) supported in the U.S., or Direct Commercial Sale (DCS) with installation options provided by PZL Mielec in Poland.
Sources
Photo Credit: Lockheed Martin
Defense & Military
AAR CORP Secures $305M Contract for US Navy C-40A Fleet Support
AAR CORP awarded $305 million contract to provide logistics and maintenance support for the US Navy and Marine Corps C-40A aircraft fleet.
This article is based on an official press release from AAR CORP.
AAR CORP. has secured a major follow-on contracts valued at approximately $305 million to provide contractor logistics support for the United States Navy and Marine Corps C-40A fleet. The agreement underscores the aerospace and defense aftermarket company’s ongoing role in maintaining the operational readiness of critical military transport aircraft.
According to the official press release from AAR, the firm-fixed-price, indefinite-delivery/indefinite-quantity (IDIQ) contract will focus on the long-term sustainment of the C-40A fleet. The C-40A is heavily relied upon by the Navy and Marine Corps for essential passenger and Cargo-Aircraft airlift missions worldwide.
By securing this follow-on contract, AAR continues its established relationship with the U.S. Air-Forces. We recognize that this agreement ensures these vital logistics aircraft remain mission-capable and ready to deploy at a moment’s notice.
Comprehensive Logistics and Maintenance Support
The newly awarded $305 million contract encompasses a wide array of sustainment and MRO activities designed to keep the C-40A fleet in peak condition. AAR stated in its release that the scope of work includes main operating base logistics and material support, as well as field team and detachment support.
Furthermore, the agreement covers both scheduled and unscheduled maintenance at multiple levels. This includes depot-level aircraft and component maintenance, modification, and repair. The company will also handle commercial line maintenance and support equipment maintenance at both the organizational and depot levels.
Commitment to Military Readiness
Maintaining a high state of readiness is a top priority for the U.S. Navy and Marine Corps, particularly for logistics aircraft that serve as the backbone of global supply chains and personnel transport. AAR executives emphasized their dedication to supporting these mission-critical requirements in their public statement.
“AAR has ensured the United States’ C‑40A fleet is ready to meet global mission demands. We are proud to extend that commitment, applying our expertise and scalable, cost‑effective solutions so our government partners can operate with confidence, agility, and unwavering effectiveness.”
The firm-fixed-price IDIQ structure of the contract provides the military with predictable costs while allowing flexibility in the Delivery of services as operational tempos fluctuate.
AirPro News analysis
This $305 million follow-on award is a significant win for AAR CORP., reinforcing its position as a premier provider of aviation services to government operators. The C-40A is an indispensable asset for military logistics, providing flexible, rapid-response airlift capabilities. By retaining this contract, AAR not only secures a steady revenue stream but also demonstrates the military’s continued trust in its maintenance, repair, and overhaul (MRO) capabilities. We view the use of a firm-fixed-price IDIQ contract as a reflection of the Department of Defense’s ongoing effort to control sustainment costs while maintaining high availability rates for its fleets.
Frequently Asked Questions
What is the C-40A?
The C-40A is a Military-Aircraft used by the U.S. Navy and Marine Corps primarily for fleet logistics support. It is capable of carrying passengers, cargo, or a combination of both to support global mission demands.
How much is the AAR contract worth?
According to the company’s press release, the follow-on contract is valued at approximately $305 million.
What type of contract was awarded?
The award is a firm-fixed-price, indefinite-delivery/indefinite-quantity (IDIQ) contract, which allows the military to order services as needed within an established pricing framework.
Sources
Photo Credit: US Navy
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