British multinational defence, security and aerospace firm BAE Sytems (LON: BA) said that the US Air Force has awarded the company a five-year contract worth $66.6 million.
The deal will see BAE provide diminishing manufacturing sources and material shortages (DMSMS) support to the Air Force supply chain.
BAE will supply the 429th Supply Chain Management Squadron at Tinker Air Force Base in Oklahoma, with its Advanced Component Obsolescence Management (AVCOM) suite of tools and services.
Ready to put what you’ve learned into practice?
Try IG’s platform with £10,000 in virtual funds and practise trading
without putting your own money at risk.
Try IG with a demo account →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Learn the markets with IG Academy
Build your knowledge with IG Academy educational content, then use a
demo account to practise what you’ve learned on the IG platform.
Explore IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
See how trading works before risking real money
IG’s demo gives you access to thousands of markets and £10,000 in
virtual funds, so you can explore the platform and test your ideas first.
Open an IG demo →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Turn trading theory into practical experience
Learn with IG Academy, explore charts and market tools, and practise
strategies in a simulated trading environment before going live.
Start practising with IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Ready to take your learning further?
IG combines market education, analysis and an established trading platform,
giving you the tools to keep learning as you develop your trading skills.
Discover IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
“In this next iteration of the DMSMS program, BAE Systems will be implementing an innovative cloud-based technology suite to enhance predictive analytics to the US Air Force,” said Pete Trainer, Vice President and General Manager of Air Force Solutions at BAE Systems.
The AVCOM database has access to over 100 million parts, and its customised web-enabled obsolescence management tool helps users forecast when a part will become obsolete or too expensive to procure.
The contract has been awarded to BAE for the last 10 times consecutively, with the latest deal being the largest in value so far.
BAE Systems stock price is relatively unmoved following the announcement, up 0.16% at 501.6p per share.
