General Dynamics Corp. (NYSE: GD) secured a $3.42 billion contract Friday to supply the Army with production and engineering services for its Hydra-70 rocket systems.
The Reston contractor was the lone bid for the six-year award, having produced more than 4 million of the 70-millimeter rockets since 1996.
The Hydra 70 are fired from missile tubes that can be deployed on a range of aircraft, such as the Army’s Apache and Cobra helicopters, or fixed-wing fighters such as the F-16.
They can be equipped with warheads for a variety of missions, including smoke screens, illumination rounds or projectile (flechette) munitions and are utilized by all U.S. military services and multiple allies.
The contract comes as General Dynamics has been navigating the ongoing effects of the coronavirus pandemic. Its combat systems business segment — which includes the Hydra 70 weapons system — logged $1.7 billion in revenue for the first quarter, a 4.4% gain over the prior year, despite delays…Read the full story from the Washington Business Journal.