V2X Secures a Major IDIQ Contract
V2X, Inc. (NYSE: VVX) has recently been awarded a significant position on the Automated Test Systems Division's (ATS) Multiple Award indefinite delivery, indefinite quantity (IDIQ) contract. This contract is facilitated by the Air Force Life Cycle Management Center, aiming to enhance global military test systems.
Supporting Warfighter Operations
This new obligation allows V2X to provide comprehensive lifecycle support for automated test systems essential for sustaining warfighter operations on a global scale. The test systems are crucial for multiple aircraft platforms, which range from advanced fighter jets and bombers to cargo and unmanned aerial vehicles.
Wide Range of Users and Applications
The users benefiting from these systems include the U.S. Air Force as well as allied programs such as the Air Force Reserve and the Air National Guard. Notably, they support vital initiatives like the F-35 Joint Strike Fighter program, thereby reinforcing the capabilities of foreign military sales as well.
Commitment to Operational Readiness
Jeremy C. Wensinger, President and Chief Executive Officer at V2X, emphasized the importance of this award, stating, "This award reflects our team's continued commitment to delivering mission-critical solutions that support operational readiness. We are proud to contribute to sustaining crucial test systems for the U.S. and its partners around the globe."
A Flexible Contract Framework
This IDIQ contract offers V2X the flexibility required to support both current and future automated test systems needs. It includes a base ordering period that lasts five years, with the option to extend for an additional five years. Throughout this period, V2X will uphold and manage both commercial and non-commercial products in line with the ATS Division's extensive portfolio.
About V2X: Meeting the Needs of Today and Tomorrow
V2X is at the forefront of developing innovative solutions that seamlessly integrate the physical and digital realms. The company focuses on aligning people, actions, and technological advancements to bolster military readiness and enhance resource management. Their contributions span across critical sectors including national security, defense, and international markets.
A Global Team Driving Innovation
With an extensive workforce of approximately 16,000 skilled professionals, V2X is dedicated to ensuring mission success. The company leverages artificial intelligence and machine learning to tackle some of the most challenging demands in various operational domains.
Contact Information
Investor Contact
Mike Smith, CFA
Vice President, Treasury, Corporate Development and Investor Relations
719-637-5773
Media Contact
Angelica Spanos Deoudes
Director, Corporate Communications
571-338-5195
Frequently Asked Questions
What does the IDIQ contract for V2X involve?
The IDIQ contract enables V2X to provide lifecycle support for automated test systems crucial for military operations globally.
Who are the primary users of the systems supported by V2X?
Primary users include the U.S. Air Force, Air Force Reserve, and the Air National Guard, among others.
How long is the contract period for V2X?
The initial period for the contract is five years, with an option to extend for another five years.
What industries does V2X serve?
V2X serves a wide range of industries including national security, defense, and civilian markets.
What is the significance of AI in V2X's operations?
AI plays a crucial role in enhancing military readiness and optimizing resource management across various domains.
