Black Friday is Now! Don’t miss out on up to 60% OFF InvestingProCLAIM SALE

BAE Systems wins 100 million pound radar contract extension for Typhoon

Published 15/09/2015, 08:32
© Reuters.  BAE Systems wins 100 million pound radar contract extension for Typhoon
AIR
-
BAES
-
LDOF
-
AM
-

LONDON (Reuters) - BAE Systems (L:BAES), Europe's biggest defence company, has won a 100 million pound ($154 million) contract extension to continue providing maintenance services for the Eurofighter Typhoon jet's defensive radar.

The company announced the deal on Tuesday at the opening of a major defence conference in London, at a time when it is trying to sell more of the fighter jets.

BAE Systems wants to lead deals to win new orders with countries including Saudi Arabia. It has said it is depending on those anticipated new orders to meet its 2015 forecast for marginal growth in earnings per share.

The contract announced on Tuesday for Typhoon's Radar and Defensive Aids Sub System (RDSS) would run until July 2016 and would support fleets of the jets in Britain, Germany, Spain and Italy, BAE said.

The Eurofighter jet is a joint project between BAE, Airbus (PA:AIR) and Finmeccanica (MI:SIFI).

The partners have already won a deal to fit the Typhoon with a new, more advanced radar system which they believe will help the jet secure new orders.

Kuwait said it would buy 28 Eurofighters earlier in September, in a deal which an industry source said was led by Finmeccanica, but the jet has this year attracted fewer orders than a rival fighter jet, the Rafale, built by France's Dassault Aviation-built (PA:AVMD).

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.