QinetiQ Group PLC (LSE:QQ.), the UK defence technology group, has won a US$92.6mln contract with the US army to develop night vision goggles over the next four years.
The indefinite delivery indefinite quantity (IDIQ) contract will help develop a technology that has been a focus of the US Department of Defence for the last two decades.
Digital Night Vision Technology will be used to support soldiers with situational awareness making use of enhancements such as fused imagers, processing hardware and algorithms.
Hampshire-based QinetiQ, which was spun out of the UK Ministry of Defence (MoD) in 2001, will help develop, test, and integrate technologies like digital imaging to support upcoming military operations.
Shawn Purvis, chief executive officer at QinetiQ US, said the technology “will better enable soldiers to view and understand information in tactical environments allowing them to react and respond to real-time data”.
Shares in the company were down 0.12% on Thursday and are down around 9% in 2023, though still up over 20% since the start of last year, having been boosted like many defence companies by the war in Ukraine.
In early January the business won a 10-year contract with the UK MoD worth £80mln.