SAIC Receives $444 Million Contract to Provide System Modernization for Space Launch Ranges
SAIC secures a $444 million contract to support the U.S. Space Force's Space Systems Command and Space Launch Deltas, enhancing spaceport launch schedules and modernizing space range instrumentation.
The announcement of Science Applications International Corp. (SAIC) being awarded a $444 million contract to support the U.S. Space Force's Space Systems Command signifies a substantial investment in space infrastructure modernization. This contract is pivotal for SAIC, as it aligns with national interests in enhancing space exploration and security. From an aerospace perspective, the focus on Digital Transformation, Acquisition, Modernization and Modification (DTAMM) suggests an effort to improve the reliability and efficiency of spaceport operations, which is critical for maintaining the United States' competitive edge in space launch capabilities.
Modernizing space launch range instrumentation is not just about updating technology; it's about ensuring that the Eastern Range (ER) and Western Range (WR) can support an increased launch cadence. This is crucial for both commercial and defense-related space missions. An accelerated launch schedule can lead to more revenue opportunities for launch service providers and satellite operators. It also enhances national defense capabilities by ensuring timely deployment and maintenance of critical satellite infrastructure.
The financial implications of the SAIC contract are multifaceted. A contract of this magnitude—$444 million—can have a substantial impact on SAIC's financial performance, potentially influencing its stock price and investor confidence. Moreover, the contract's focus on DTAMM for the Space Force indicates ongoing and future revenue streams related to space defense. The defense sector is known for long-term contracts, which provide predictable revenue and can be a stabilizing factor for companies within this industry.
Investors should note that contracts with the U.S. government often come with strict performance criteria and milestones. SAIC's ability to meet these requirements could affect future contract awards and its competitive position in the industry. The company's performance on this contract could serve as a benchmark for its operational efficiency and innovation capabilities in the eyes of both the government and investors.
The emphasis on Digital Transformation indicates a move towards integrating advanced technologies to streamline spaceport operations. This integration likely involves the adoption of artificial intelligence, machine learning and other cutting-edge technologies to enhance decision-making and operational workflows. The modernization of antiquated instrumentation and processes is essential for reducing launch delays and increasing the dependability of launch schedules.
From a technological standpoint, the modernization efforts will likely encompass the development and deployment of new software and hardware systems. These systems could provide better data analytics, improve tracking and telemetry and enable more autonomous operations. The long-term benefits include potentially reduced costs due to increased efficiency and the ability to accommodate a broader range of spacecraft and missions.
03/11/2024 - 08:05 AM
Company will enable a faster and more dependable spaceport launch schedule
RESTON, Va. --(BUSINESS WIRE)--
Science Applications International Corp. (NYSE: SAIC ) has been awarded a $444 million U.S. Space Force's Space Systems Command and Space Launch Deltas (SLDs) 30 and 45.
"SAIC's continued partnership with the Space Force is a symbol of our commitment to further space exploration, resilience and crew safety in space ranges in Florida , California and across the United States ," said David Ray, executive vice president, Space and Intelligence Business Group at SAIC. "As space efforts advance, we understand the growing significance of efficient spaceports and look forward to further supporting the modernization work alongside our industry-leading partners."
SAIC will support the modernization of the space launch range instrumentation. The efforts will support an accelerated national launch cadence across the Eastern Range (ER) and Western Range (WR) including Cape Canaveral Space Force Station and Patrick Space Force Base in Fla. and Vandenberg Space Force Base in Calif. Experts from SAIC and partners will collaborate to modernize antiquated instrumentation and processes to enable a faster and more integrated launch environment.
SAIC remains at the forefront of national priorities to explore, secure and influence space by leveraging industry expertise and legacy in this domain. In addition to DTAMM, SAIC's work facilitates future unmanned spacecraft, earth science data-collecting satellites, space-ground systems for military joint all-domain command and control and more.
To learn more about SAIC’s space exploration efforts, please visit SAIC.com
About SAIC
SAIC® is a premier Fortune 500® technology integrator driving our nation’s technology transformation. Our robust portfolio of offerings across the defense, space, civilian and intelligence markets includes secure high-end solutions in engineering, digital, artificial intelligence and mission solutions. Using our expertise and understanding of existing and emerging technologies, we integrate the best components from our own portfolio and our partner ecosystem to deliver innovative, effective and efficient solutions that are critical to achieving our customers' missions.
We are approximately 24,000 strong; driven by mission, united by purpose, and inspired by opportunities. SAIC is an Equal Opportunity Employer, fostering a culture of diversity, equity and inclusion, which is core to our values and important to attract and retain exceptional talent. Headquartered in Reston, Virginia , SAIC has annual revenues of approximately $6.9 billion saic.com . For ongoing news, please visit our newsroom.
Forward-Looking Statements
Certain statements in this release contain or are based on “forward-looking” information within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by words such as “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “guidance,” and similar words or phrases. Forward-looking statements in this release may include, among others, estimates of future revenues, operating income, earnings, earnings per share, charges, total contract value, backlog, outstanding shares and cash flows, as well as statements about future dividends, share repurchases and other capital deployment plans. Such statements are not guarantees of future performance and involve risk, uncertainties and assumptions, and actual results may differ materially from the guidance and other forward-looking statements made in this release as a result of various factors. Risks, uncertainties and assumptions that could cause or contribute to these material differences include those discussed in the “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Legal Proceedings” sections of our Annual Report on Form 10-K, as updated in any subsequent Quarterly Reports on Form 10-Q and other filings with the SEC, which may be viewed or obtained through the Investor Relations section of our website at saic.com or on the SEC’s website at sec.gov . Due to such risks, uncertainties and assumptions you are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. SAIC expressly disclaims any duty to update any forward-looking statement provided in this release to reflect subsequent events, actual results or changes in SAIC’s expectations. SAIC also disclaims any duty to comment upon or correct information that may be contained in reports published by investment analysts or others.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240311534080/en/
Thais Hanson
thais.c.hanson@saic.com
Source: Science Applications International Corp.
What contract did SAIC secure?
SAIC secured a $444 million contract to support Digital Transformation, Acquisition, Modernization, and Modification (DTAMM) for the U.S. Space Force's Space Systems Command and Space Launch Deltas 30 and 45.
Who is the executive vice president of SAIC's Space and Intelligence Business Group?
David Ray is the executive vice president of SAIC's Space and Intelligence Business Group.
What will SAIC support in terms of modernization?
SAIC will support the modernization of the space launch range instrumentation to enable a faster and more integrated launch environment.
Where will SAIC's efforts support an accelerated national launch cadence?
SAIC's efforts will support an accelerated national launch cadence across the Eastern Range (ER) and Western Range (WR) including Cape Canaveral Space Force Station and Patrick Space Force Base in Fla. and Vandenberg Space Force Base in Calif.
What future projects will SAIC's work facilitate?
SAIC's work will facilitate future unmanned spacecraft, earth science data-collecting satellites, space-ground systems for military joint all-domain command and control, and more.
