-1.1 C
New York
Thursday, February 2, 2023

General Dynamics Corporation (GD) Received a Defense Contract For Satellite Network

General Dynamics Corporation (NYSE: GD), a maker of aerospace, marine, and military equipment, has been given a defense contract to support a key satellite network. Furthermore, the contract has the potential to significantly raise the ultimate cost. This proved a quotation driver, with GD shares fetching $226.51 in the trading on May 26.

General Dynamics Corporation (GD) and the US Department of Defense’s Space Development Agency (SDA) have agreed to a seven-year, $324.5 million deal. As part of the arrangement, GD will oversee SDA’s new low-orbit satellite constellation’s ground infrastructure and network operations.

Top 5 Undervalued Stocks To Own In 2023

Microchip Maker Releases "World's Most Powerful Data Center CPU". It could allow the company who manufactures it to lead the industry as the global microchip shortage continues into the coming year. We've put together a free research report that explains all the details. Not only will you find out why analysts believe this chip manufacturer could lead the pack, you will also discover four more potential winners for the coming year.

Click here to download your Free Research Report…

Sponsored

It will consist of more than a hundred satellites linked together by laser communication links. As a result, the constellation will be immune to radio interference and detection while yet allowing for high-speed data transfer.

Initially, satellites are intended to be placed in near-polar orbits, where strategic vehicles such as reconnaissance satellites or missile attack warning system components are normally found.

Because of the project’s high technical complexity, General Dynamics Corporation (GD)’s contract incorporates extension options that will very definitely be exercised.

Because a considerable quantity of labor and a wide range of duties are envisaged, General Dynamics and Iridium Communications jointly submitted a bid to the competition. As a result, only terrestrial communication stations must have a minimum of 14, while the principal contractor will oversee satellite launches and data traffic.

Launches will commence in two years, and SDA expects to pick two missile launch detection satellite makers in 2025. The end product should be a massive network of satellites for varied purposes that General Dynamics Corporation (GD) will administer. As a result, the firm will enter a lucrative market: demand for low-orbit communications is expected to grow over the next decade.

The stock of General Dynamics Corporation (GD) has gained 6.09 percent in the last week and -6.09 percent in the last month. It has gained 8.65 percent this year and 19.27 percent in the previous year.

Latest news

Related news

LEAVE A REPLY

Please enter your comment!
Please enter your name here