Latest news with #QinetiQ
Yahoo
4 days ago
- Business
- Yahoo
South Essex MP welcomes landmark £1.5 billion defence contract extension
A south Essex MP has welcomed a landmark £1.5 billion defence contract. Bayo Alaba, MP for Southend East and Rochford, praised the long-term contract extension between the Ministry of Defence and QinetiQ. He said this will help support jobs at the MOD Shoebury site, which is operated by QinetiQ. Mr Alaba said: "Extending this partnership means certainty for hundreds of local jobs. "I visited the MOD in Shoeburyness recently and had the pleasure of meeting local people who worked there. "I was impressed by the work they do, so I'm pleased to see the Labour Government's vote of confidence in them. "By extension, this is good news for the economy in Shoebury and Southend." As a former soldier, Mr Alaba said matters of defence hold personal significance for him. He also expressed hope that the contract will continue to offer opportunities for young people through apprenticeships and graduate schemes.
Associated Press
27-05-2025
- Business
- Associated Press
QINETIQ US WINS $41 MILLION TASK ORDER TO SUPPORT ARMY COUNTER UAS
Advanced sensor integration and detection technologies to strengthen U.S. Army counter-UAS capabilities MCLEAN, Va., May 27, 2025 /PRNewswire/ -- QinetiQ US wins a $41 million, three-year task order to provide software and technology integration support for a counter-UAS project under the U.S. Army Combat Capabilities Development Command (DEVCOM) C5ISR Center. The company will deliver technical and software engineering expertise to advance counter-UAS capabilities across fixed installations, vehicles, and mobile deployment systems. As systems integration experts, QinetiQ US will support key aspects of the program including development, testing, deployment and training, providing warfighters with critical sensor technologies needed to detect and track increasingly sophisticated drone threats. 'This task order reinforces QinetiQ US' role as a trusted technology partner in countering the rapidly evolving UAS threat landscape that challenges our warfighters,' said Jonathan Riksen, executive vice president and general manager of QinetiQ US' National & Global Security Solutions. 'By developing advanced sensor technologies and data fusion capabilities for counter-UAS programs, we're providing essential detection and tracking systems that form critical links in the counter-UAS kill chain.' QinetiQ US' advanced sensor and data fusion solutions provide the critical detection and tracking capabilities essential to layered counter-drone defense systems. By enabling precise threat identification, these solutions deliver the intelligence foundation necessary for effective counter-UAS neutralization decisions. About QinetiQ US QinetiQ US is a leading defense and national security company providing mission-led, customer-focused engineering and innovative solutions for next-generation ISR, advanced cyber technology, mission operations and multi-domain autonomous systems to deliver a decisive and actionable information advantage. As a provider of secure, technologically advanced services and products to the U.S. Department of Defense, Homeland Security, Intelligence Community and other national security agencies, QinetiQ US partners closely with customers to deploy new capabilities protecting lives and the nation's vital interests. QinetiQ US operates under a Special Security Agreement (SSA) with the U.S. Government. As the U.S. subsidiary of QinetiQ Group plc, we maintain independent governance and oversight to protect classified information and ensure full compliance with U.S. national security requirements. For more information, visit View original content to download multimedia: SOURCE QinetiQ US
Business Insider
24-05-2025
- Business
- Business Insider
Kepler Capital Reaffirms Their Hold Rating on QinetiQ (QQ)
Kepler Capital analyst Aymeric Poulain maintained a Hold rating on QinetiQ (QQ – Research Report) on May 22 and set a price target of p436.00. The company's shares closed yesterday at p466.20. Confident Investing Starts Here: Poulain covers the Industrials sector, focusing on stocks such as Airbus Group SE, Rolls-Royce Holdings, and BAE Systems. According to TipRanks, Poulain has an average return of 14.1% and a 66.11% success rate on recommended stocks. The word on The Street in general, suggests a Moderate Buy analyst consensus rating for QinetiQ with a p475.86 average price target, a 2.07% upside from current levels. In a report released yesterday, RBC Capital also maintained a Hold rating on the stock with a £4.70 price target.
Wall Street Journal
22-05-2025
- Business
- Wall Street Journal
QinetiQ to Target NATO Countries for Future Growth After Posting Earnings Loss
The British defense company said it would launch a restructuring drive to bring down costs, refine its U.S. strategy and focus on growing its business with North Atlantic Treaty Organization countries, after posting a loss in earnings for fiscal 2025. QinetiQ generates the vast majority of its revenue in U.K., the U.S. and Australia, but its fiscal 2025 results took a hit from a slowdown in the award of British contracts and the uncertainty caused by the change in the U.S. administration, Chief Executive Steve Wadey said Thursday, adding that the group has taken decisive action to reshape the business for growth.
Reuters
22-05-2025
- Business
- Reuters
UK signs $2 billion contract extension with defence firm QinetiQ
LONDON, May 22 (Reuters) - Britain said on Thursday it signed a 1.5 billion pound ($2.01 billion) five-year contract extension with defence company QinetiQ for it to provide testing and evaluation of military equipment, including missile firings and test pilot training. ($1 = 0.7457 pounds)
