Saab Inc., the U.S. business arm of the Swedish aerospace and defense company, has booked a $494.4 million contract from the U.S. Army for the production of XM919 Individual Assault Munition, or IAM.
The Department of Defense said Tuesday the firm-fixed-price contract, which covers an unspecified amount of XM919 IAM, was awarded to Saab by the Army Contracting Command in Newark, New Jersey.
XM919 IAM is a lightweight, recoilless, single shot and multi-target munition that can be fired from an enclosure. It is designed to target earth and timber bunkers, masonry structures and light armored vehicles within 15 to 500 meters away.
Work locations and funding for contract will be determined on an order basis. IAM delivery is expected to be completed on Aug. 26, 2029.
Saab is one of three companies that submitted their bids after the Army issued a request for proposal online.
The company was previously awarded a $105 million contract by the DOD for AT4 anti-tank weapon systems and Carl-Gustaf ammunition. The XM919 IAM and AT4 are both shoulder-launched munitions used mainly for close combat missions.
