Hello, Guest!
  • Tuesday, November 26, 2024

UTC Gets $437M Air Force Contract Modification for Engine Risk Reduction Work


United Technologies Corp. (NYSE: UTX) has received a $436.7M contract modification from the U.S. Air Force to execute risk reduction efforts related to air superiority applications of a flight-weight adaptive engine.

The modification falls under a previously awarded contract that covers the design, development, fabrication and test of next-generation propulsion technology, the Defense Department said Friday.

UTC was initially awarded a potential $1B contract in July 2016 to support the Air Force’s Adaptive Engine Transition Program.

DoD pegs the total cumulative value of UTC’s contract at $1.45B and expects the company to complete its risk reduction work by Feb. 28, 2022.

The Air Force Life Cycle Management Center has obligated $10M at the time of award from the service branch’s research and development funds for fiscal 2018.

Video of the Day

Related Articles

Former L3Harris CEO William Brown to Succeed Michael Roman as 3M Chief Executive in May Executive Moves

Former L3Harris CEO William Brown to Succeed Michael Roman as 3M Chief Executive in May

William Brown, former chairman of the board and CEO of L3Harris Technologies (NYSE: LHX), will take on the role of chief executive of multinational conglomerate 3M (NYSE: MMM) on May 1. He will succeed Michael Roman, who will transition to the role of executive chairman of the board at 3M in May, the company said

Christopher Calio to Succeed Gregory Hayes as RTX CEO in May Executive Moves

Christopher Calio to Succeed Gregory Hayes as RTX CEO in May

Christopher Calio, president and chief operating officer of RTX (NYSE: RTX), has been elected to the Arlington, Virginia-based aerospace and defense company’s board of directors and will assume the role of CEO in May. He will succeed Gregory Hayes, who will continue to serve as RTX’s executive chairman, the company said Thursday. “Today’s announcement reflects

Carroll Lane Named Kaman Interim CFO Executive Moves

Carroll Lane Named Kaman Interim CFO

Carroll Lane, a senior vice president and segment lead of engineered and precision products at Kaman (NYSE: KAMN), has been appointed interim chief financial officer at the Bloomfield, Connecticut-based aerospace and defense contractor. He replaces James Coogan, who is stepping down as CFO after two years in the role and Kaman said Friday it has