The Defense Department said Tuesday the companies will build the systems through March 28, 2022.
Vingtech and Wilcox Industries will produce the sighting system for the Heckler & Koch M320, a 40-millimeter single-shot grenade launcher set to replace the Armys M203.
The grenade launcher works to fire high-explosive, armor-piercing, irritant gas, smoke and illuminating rounds.
The Army Contracting Command at Picatinny Arsenal in New Jersey received three bids for the contract via an Internet solicitation.