Leonardo DRS Receives Contract Award for US Army 3rd Generation FLIR Sensors

ARLINGTON, Va., December 05, 2022--(BUSINESS WIRE)--Leonardo DRS (DRS) announced today that it has received a contract award from the U.S. Army to provide advanced infrared sensors for the next-generation sighting systems. These sensors will replace the current Horizontal Technology Integration (HTI), 2nd Generation Sensors for high-value platforms across the US Army fleet, including the Abrams Main Battle Tank, and the Optionally Manned Fighting Vehicle. The Firm-Fixed-Price and Cost Plus-Fixed-Fee contract is worth $39.5 million.

Under the contract, awarded on August 23, 2022, DRS will develop and produce Low-Rate Initial Production of the 3GEN Forward Looking Infrared (FLIR) Dewar Cooler Bench (DCB) long-range sensor. The DCB converts infrared radiation into video images and is the key enabler for the next generation of FLIR sights, providing improved situational awareness with significant improvements in range and resolution under a full spectrum of degraded weather and battlefield conditions. The US Army chose DRS as the only provider for this key technology capability.

"We are proud to be the only company chosen to provide this next-generation technology that will help ensure our warfighters are using the most advanced lifesaving technology available today," said Jerry Hathaway, Senior Vice President and General Manager of the DRS Electro-Optical and Infrared Systems business, "For the last 20 years, we have successfully provided our customer with the HTI, the previous generation of this sensor, and this award positions DRS for multiple decades of sustained production while setting the stage to extend its position as the U.S. Army’s premier supplier of ground combat vehicle sensors and sights."

At the core of the infrared technology is decades of experience from the company’s Electro-Optical and Infrared Systems (EOIS) business, developing and providing industry leading innovative capabilities that the U.S. and allied military forces have come to rely on.

The Leonardo DRS EOIS business is part of the advanced sensing and computing segment, which has an extensive installed base across the U.S. military. Sensing technology is a key strategic focus for Leonardo DRS as the company brings together its world-leading sensing and laser technologies for the men and women of the U.S. armed forces.

Production of these sensors will be in the company’s Electro-Optical Infrared Systems facility Melbourne, Florida.

About DRS

Leonardo DRS, Inc., headquartered in Arlington VA, develops and manufactures advanced defense products for the U.S. military, intelligence agencies and allies around the world. Our broad technology portfolio focuses on advanced sensing, network computing, force protection, and electrical power and propulsion and other defense priorities. And our innovative people are leading the way in developing disruptive technologies for autonomous, dynamic, interconnected, and multi-domain capabilities to defend against new and emerging threats. See how we are shaping the battlefield of tomorrow with our full range of capabilities at www.LeonardoDRS.com.

Forward-Looking Statements

This communication contains statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Those statements reflect management’s current expectations, assumptions and estimates of future performance and economic conditions. The company cautions investors that any forward-looking statements, which include contract values, contract performance and our development and production of products, are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements. DRS does not undertake any obligation to update these statements, except as required by law.

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Contacts

Leonardo DRS Investor Relations Contacts

Steve Vather
Vice President, Investor Relations and Corporate Finance
+1 703 409 2906
stephen.vather@drs.com

Cody Slach or Jeff Grampp, CFA
Gateway Group
+1 949 574 3860
DRS@GatewayIR.com

Leonardo DRS Media Contact
Michael Mount
Vice President, Communications and Public Affairs
+1 571 447 4624
mmount@drs.com