BAE Systems Signs Multi-Year Deal With U.S. War Department to Boost APKWS Production to 35,000 Units Annually

BAE Systems (BA.L) announced Monday it has signed a multi-year framework agreement, spanning up to seven years of multi-year procurement, with the U.S. Department of War to expand production capacity of its APKWS laser-guidance kits to as many as 35,000 units per year. Financial terms were not disclosed. The APKWS kits convert unguided 2.75-inch rockets into precision-guided munitions and are used in counter-drone operations, with effectiveness across air-to-surface, surface-to-surface, surface-to-air and air-to-air engagements. The kits are manufactured at BAE facilities in Hudson, New Hampshire, and Austin, Texas. Shares of the London-listed aerospace and defense company closed Monday at 1,952.50 pence, down 1.56% on the London Stock Exchange.