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Pin to quick picksQinetiq Share News (QQ.)

Share Price Information for Qinetiq (QQ.)

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Share Price: 423.20
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Change: 49.00 (13.09%)
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Qinetiq inks four year contract with US army worth USD93 million

Thu, 30th Mar 2023 10:08

(Alliance News) - Qinetiq Group PLC on Thursday said it has won a contract to develop digital night vision technology, worth up to USD92.6 million over four years.

Qinetiq is a Hampshire, England-based science & engineering company operating primarily in the defence and security markets.

Qinetiq said it has won a single award "Indefinite Delivery Indefinite Quantity" by the US Army.

"The DNVT effort utilises and continues more than two decades of Department of Defense science and technology research, development and investment into digital visible, low-light level and infrared cameras, image processing and display component technologies, and integrated systems," the company explained.

Under the agreement, the US army will continue to evolve capabilities via DNVT through development, integration, experimentation, and laboratory and platform test and evaluation.

Qinetiq noted that DNVT will "substantially enhance" soldiers' situational awareness and decision-making abilities by developing digital night vision capabilities coupled with component technology enhancements including fused imagers, display enhancements, and image processing hardware and algorithms.

Chief Executive Officer of QinetiQ US said: "Digital night vision technology will better enable soldiers to view and understand information in tactical environments allowing them to react and respond to real-time data. We are proud to support the critical needs of our US Army customers."

Shares in Qinetiq were down 0.1% to 324.40 pence each in London on Thursday morning.

By Sophie Rose, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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