Teledyne Brown Engineering Secures $42.9 Million NAVSEA Contract Modification to Sustain MK11 SEAL Delivery Vehicle Fleet

Key Terms

firm-fixed-price contract financial

A firm-fixed-price contract is an agreement where a buyer and a seller agree on one nonchanging price for goods or services, so the seller is paid that amount regardless of its actual costs. Think of hiring a contractor to build a deck for a set fee: the contractor bears the risk if materials or labor cost more than expected, while the buyer gets price certainty. For investors, these contracts mean predictable revenue but higher exposure of the seller’s profit margin to cost overruns and efficiency, affecting earnings stability and cash flow forecasts.

Deep Submergence System—Scope of Certification (DSS) technical

Deep submergence system—scope of certification (DSS) is the formal description of what a deep-sea submersible or underwater system is approved to do, specifying limits such as maximum operating depth, crew or payload capacity, safety systems, and permitted mission types. For investors, DSS matters because it governs where and how the asset can legally operate, shapes safety and insurance costs, and therefore directly affects potential revenue and operational risk—similar to a vehicle’s license and road restrictions.

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HUNTSVILLE, Ala.--(BUSINESS WIRE)-- Teledyne Brown Engineering, Inc., a subsidiary of Teledyne Technologies Incorporated (NYSE:TDY) and a leader in advanced engineering and manufacturing solutions, announced it has received a $42,882,299 firm-fixed-price contract modification from the Naval Sea Systems Command (NAVSEA) to provide Provisioned Items Order spares in support of the MK11 SEAL Delivery Vehicle (SDV) program.

The MK11 SDV, also known as the Shallow Water Combat Submersible (SWCS), is a manned platform designed to clandestinely deliver Special Operations Forces into high-threat environments. Teledyne Brown Engineering was originally awarded the contract to design, develop, manufacture, and test the MK11 in 2011 and has since delivered and maintained a fleet of these advanced vehicles.

This latest award ensures continued operational readiness by supplying critical components for the MK11 fleet. Work will be performed at Teledyne Brown Engineering’s Huntsville, Alabama facility.

Teledyne Brown Engineering is proud to be the first company to successfully meet all current requirements outlined in the NAVSEA 07 Certification process, achieving authorization to perform Deep Submergence System—Scope of Certification (DSS) work. This milestone underscores Teledyne’s commitment to delivering innovative, mission-critical solutions for the U.S. Navy and Special Operations Forces.

About Teledyne Brown Engineering

Teledyne Brown Engineering is an industry leader in full-spectrum engineering and advanced manufacturing solutions for harsh environments in space, defense, and energy industries. For over seven decades, the company has successfully delivered innovative systems, integration, operations, and technology development worldwide. For more information about Teledyne Brown Engineering visit: www.tbe.com.

About Teledyne Technologies

Teledyne is a leading provider of sophisticated digital imaging products and software, instrumentation, aerospace and defense electronics, and engineered systems. Teledyne's operations are primarily located in the United States, Canada, the United Kingdom, and Western and Northern Europe. For more information, visit Teledyne's website at www.teledyne.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20251209031730/en/

Media Contact:
Jessica Sanders
(256) 726-1385

Source: Teledyne Brown Engineering, Inc.