Barrett and MARS win Army's Precision Grenadier System competition
'Lt. Col. Micah Rue, Project Manager Soldier Lethality's Product Manager for Soldier Weapons, noted the lack of a commercial PGS solution,' the Army Innovation Programs Office noted in an Army xTech article. 'To deliver an Army PGS program by fiscal year 2026, PEO Soldier partnered with xTech to fund and incentivize industry participation, sparking innovation and creating a new industry teaming environment.'
Phase 1 took place in 2023 and involved a concept white paper submission; up to five winners could be selected and were awarded $15,000 each. Winners of phase 1 were invited to participate in the phase 2 technology pitch, also in 2023. Up to three winners were selected in phase 2 and awarded $300,000 each. Phase 3, final demonstration, took place from 2024-2025 and saw FN's PGS-001 complete against MARS Inc/Barrett's 30mm Support Rifle System.
'In six months, this team of agile businesses were able to design, build, test, and demonstrate the effectiveness of a new 30mm grenade rifle system in support of the Army's Precision Grenadier System (PGS) requirement,' Barrett said in a press release. 'PGS is a soldier portable, shoulder fired, semi-automatic, magazine fed, integrated armament system (weapon, ammunition, fire control) that enables rapid, precision engagements to destroy personnel targets in defilade and Unmanned Aerial Systems (UAS) targets at close range.'
Barrett and MARS worked with AMTRC Corp to develop an entirely new family of 30mm shoulder fired munitions. The new ammunition family covers the full spectrum of capabilities required by the Army including Programmable Air Bursting High Explosive, Proximity Fuzed and Point Detonating High Explosive, and even a Close Quarter Battle Round. AMTEC is the largest volume producer of 40mm grenade ammunition and fuzing in the world and is currently the sole Prime Contractor to the DoD for 40mm ammunition.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Insider
5 hours ago
- Business Insider
Why Is ProPhase Labs Stock (PRPH) Up 25% Today?
ProPhase Labs (PRPH) stock took off on Tuesday after the consumer healthcare company announced a patent update. The U.S. Patent and Trademark Office has issued its approval for a patent that covers its biomarker-based systems and methods to assess progression risk in Barrett's esophagus and esophageal adenocarcinoma. This is a type of cancer that develops in the glandular cells lining the esophagus. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Ted Karkus, CEO of ProPhase Labs, said, 'With this newly issued patent, we believe we are well positioned to accelerate commercialization and broaden clinical access to BE-Smart.' BE-Smart is the company's molecular diagnostic, which has achieved a greater than 95% technical success rate in detecting its patented panel of biomarkers. Investors will also note that ProPhase Labs will release its Q2 2025 earnings report tomorrow. Wall Street's estimates are for earnings per share of -15 cents and revenue of $3.55 million. ProPhase Labs has historically missed estimates more times than it has surpassed them. ProPhase Labs Stock Movement Today ProPhase Labs stock was up 26.98% in pre-market trading on Tuesday, following a 9.77% drop yesterday. Traders will also note that the shares have fallen 62.93% year-to-date and 88.6% over the past 12 months. Today's movement came with heavy trading, as some 61 million shares changed hands, compared to a three-month daily average of about 903,000 units. Is ProPhase Labs Stock a Buy, Sell, or Hold? Turning to Wall Street, analysts' coverage of ProPhase Labs is lacking. Fortunately, TipRanks' AI analyst Spark has it covered. Spark rates PRPH stock a Neutral (46) with a 50-cent price target, representing a potential 77.49% upside for the shares.
Yahoo
a day ago
- Yahoo
BigBear.ai Stock Plummets on Uncertainty About Government Contracts
Key Takeaways lowered its revenue guidance and withdrew its adjusted EBITDA outlook on government contract uncertainty. The artificial intelligence data analytics company said it would be affected by changes in the Army's data architecture. posted a bigger loss and lower revenue than expected in the second (BBAI) shares lost a quarter of their value Tuesday, a day after the artificial intelligence data analytics firm slashed its revenue outlook and withdrew its profit forecast on uncertainty about government contracts. The company now anticipates full-year revenue in the range of $125 million to $140 million, down from its earlier estimate of $160 million to $180 million. Its previous guidance for adjusted EBITDA had been "in the negative single digit millions." CEO Kevin McAleenan said while is optimistic about future investments and growth opportunities, "we have also seen disruptions in federal contracts from efficiency efforts this quarter, most notably in programs that support the U.S. Army, as they seek to consolidate and modernize their data architecture." Along with questions about Army contracts, the company expects increased spending in the second half of the year. In the second quarter, posted a loss of $0.71 per share, about 12 times more than analysts from Visible Alpha were looking for. Revenue slumped 18% year-over-year to $32.5 million, also well short of forecasts. Shares of had entered Tuesday up nearly 60% this year. Read the original article on Investopedia
Business Upturn
a day ago
- Business Upturn
DroneAcharya bags new Indian Army contract for drone supply and advanced lab setup
By Aditya Bhagchandani Published on August 12, 2025, 11:22 IST DroneAcharya Aerial Innovations Limited has won a work order worth Rs 99.67 lakh from the Indian Army – Ministry of Defence for the supply of drones and the establishment of an advanced Drone Lab. The project, commencing on August 8, 2025, and set to conclude by November 6, 2025, will significantly enhance the Army's drone training capabilities, offering hands-on experience in reconnaissance, surveillance, and First Person View (FPV) drone operations. The scope includes Combat-Ready FPV Drones (10-inch and 7-inch), Surveillance Drones, Training Drones, and customised Nano Drones, along with a state-of-the-art Drone Lab and integrated drone systems. This initiative aims to modernise combat engineering training, improve real-time situational awareness, and boost tactical efficiency within the regiment. This follows DroneAcharya's earlier Rs 55 lakh project for upgrading another Army Drone Lab, which involved supplying drones for defence operations, DGCA-approved pilot training, and a Train-the-Trainer programme. Founder and Managing Director Prateek Srivastava stated that integrating drones into military training acts as a 'force multiplier,' enhancing decision-making, operational efficiency, and safety. The company, headquartered in Pune, serves sectors including defence, agriculture, infrastructure, and emergency services, and remains committed to advancing UAV technology and training skilled professionals. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
