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Benzinga

Business

Akanksha Bakshi

US Air Force Awards Redwire Position On $950M IDIQ Contract

Air Force IDIQ US Air Force Department of Defense NYSE

Redwire Corp (NYSE:RDW) has been selected by the U.S. Air Force to compete for task orders alongside several other companies under an IDIQ contract to support its Advanced Battle Management System (ABMS).
This program is the Air Force’s contribution to the Department of Defense’s Joint All Domain Command and Control Architecture (JADC2) and focuses on modernizing decision-making processes for combat operations.
The IDIQ has a $950 million ceiling and is shared across all awardees with no guaranteed task orders for the maturation, demonstration, and proliferation of capabilities across platforms and domains, leveraging open systems design, modern software, and algorithm development in order to enable JADC2.
Price Action: RDW shares are trading higher by 3.02% at $6.65 on the last check Tuesday.

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