Kratos Defense & Security Solutions, Inc., the San Diego-based company that develops transformative, affordable technology for the Department of Defense and commercial customers, said on May 21 that its Unmanned Systems Division (KUSD) has received approximately $38 million in high performance unmanned aerial drone aircraft, systems and related product contract awards.
No further details of the contract awards were available due to customer related, competitive and other considerations, according to a news release. The work for these contract awards will be performed at secure Kratos manufacturing facilities and customer locations.
“KUSD is a leader in the rapid development, demonstration, and fielding of certain of the highest performance unmanned aerial drone systems in the world at an affordable cost, and these recent contract awards demonstrate Kratos’ positioning as having the right products at the right price points to address our customers’ mission and budgetary requirements,” said Steve Fendley, president of Kratos’ Unmanned Systems Division.
Since 2013, Kratos (Nasdaq: KTOS) has been making funded investments in its KUSD program to develop and own the intellectual property in a suite of high performance unmanned aerial drone aircraft and systems, according to the company’s President and CEO, Eric DeMarco.
“As a result, production is now beginning on several new programs and increasing on existing programs, and with our significant KUSD internal investments expected to be complete in the second half of this year, we are forecasting increased revenues, profitability and cash flow,” DeMarco added.