- QinetiQ Group has secured a five-year, $224 million contract to provide mission support services to the U.S. Space Development Agency (SDA).
- This contract marks the largest competitive agreement for QinetiQ since its acquisition of Avantus in November of the previous year.
August 31, 2023, London — QinetiQ Group, the London-listed defense-technology firm, announced on Thursday that it has been awarded a five-year, $224 million contract to provide mission support to the U.S. Space Development Agency (SDA).
A Milestone Contract
The contract stipulates that QinetiQ will deliver a range of services including management and professional services, acquisition support, as well as engineering and technical assistance to the SDA. This marks a significant milestone for the company, as it is the largest competitive contract QinetiQ has secured since its acquisition of Avantus in November last year.
What This Means for QinetiQ
The contract not only represents a substantial financial commitment but also solidifies QinetiQ’s position as a key player in the rapidly evolving space industry, particularly in the United States. It is expected to significantly contribute to the company’s revenue growth and profit margins in the coming years.
