Log in
Log in
Or log in with
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
Twitter Twitter
Facebook Facebook
Apple Apple     
  1. Homepage
  2. Equities
  3. United Kingdom
  4. London Stock Exchange
  5. QinetiQ Group plc
  6. News
  7. Summary
    QQ.   GB00B0WMWD03


Real-time Estimate Cboe Europe  -  11:27:00 2023-02-03 am EST
345.00 GBX   -0.06%
02/01FTSE 100 in the red as US Fed decision looms
02/01Jefferies Downgrades Qinetiq to Hold from Buy, Trims PT
02/01Analyst recommendations: Chemring, General Mills, McDonald's...
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

ú31 million contract supports specialist jobs on future fighter jet programme

11/21/2022 | 12:35pm EST

A £31 million contract for highly specialised engineering support for the Future Combat Air Systems (FCAS) programme has been awarded to UK Defence firm - QinetiQ.

Under a three-year contract, the Aurora Engineering Delivery Partnership (EDP) led by QinetiQ, will provide technical support to FCAS and the Defence Equipment & Support (DE&S) Catalyst delivery team, which is responsible for delivering the latest combat air capabilities to UK frontline commands.

The contract will support around 45 jobs based in Bristol, Boscombe Down, Farnborough, Malvern, Bath and Lincoln. Alex Chalk, Minister for Defence Procurement said:

The Future Combat Air Systems programme continues to make good progress, as demonstrated by this latest engineering contract. I am delighted that highly skilled UK industry personnel will lend their support and expertise to the programme, as we work together to deliver a next-generation fighter jet for the future.

The delivery will also include the EDP partners Atkins and BMT, along with a number of subcontractors in the EDP provider network. Richard Berthon, Director Future Combat Air, added:

This contract with Aurora and QinetiQ is a demonstration of our commitment to working with the UK's leading defence technology companies on FCAS. Their expertise will be vital to the programme as we work at pace to deliver a next-generation combat air capability by 2035. Nic Anderson, Chief Executive UK Defence, QinetiQ said:

The Aurora Engineering Partnership with the UK MOD and DE&S continues to go from strength to strength, providing technical support to the most complex acquisition programmes. Our work with Catalyst DT will help accelerate new ways of working using digital engineering methodologies in supporting the next generation of combat air platforms.

Work carried out by the Aurora Engineering Partnership led by QinetiQ will enable DE&S to deliver essential engineering strategies for future FCAS capabilities. The partnership will provide engineering support - initially focusing on Human Performance, Safety and Systems Engineering disciplines.

The FCAS programme currently employs around 2,500 highly skilled people across the UK including at combat air sector industrial hubs in Scotland, the north-west and south-west of England. The programme now employs 1,000 apprentices and graduates, offering attractive employment opportunities in STEM subjects such as industrial digitisation, artificial intelligence and data analytics.

Tempest, a highly advanced future fighter, is due to enter service in 2035, operating at the heart of a wider Future Combat Air System. Tempest was announced at the 2018 Farnborough International Air show and since then, has made significant progress with a flying demonstrator currently being built and the 'Generation Tempest' initiative being launched to create early careers job opportunities across the UK. Published 21 November 2022


(C) 2022 M2 COMMUNICATIONS, source M2 PressWIRE

All news about QINETIQ GROUP PLC
02/01FTSE 100 in the red as US Fed decision looms
02/01Jefferies Downgrades Qinetiq to Hold from Buy, Trims PT
02/01Analyst recommendations: Chemring, General Mills, McDonald's...
02/01Citigroup cuts Persimmon; HSBC raises Asos
01/31Qinetiq : leads advancement in human and machine teaming with European first
01/30UK dividends calendar - next 7 days
01/27UK dividends calendar - next 7 days
01/18FTSE 100 Closes Down 0.3% as UK Inflation Puts Pressure on Pound
01/18Just Eat Takeaway's Strategic Shift Looks to Be Paying off
01/18Qinetiq on track to deliver in line with expectations
More news
Analyst Recommendations on QINETIQ GROUP PLC
More recommendations
Sales 2023 1 524 M 1 871 M 1 871 M
Net income 2023 179 M 219 M 219 M
Net Debt 2023 227 M 278 M 278 M
P/E ratio 2023 11,2x
Yield 2023 2,24%
Capitalization 1 974 M 2 423 M 2 423 M
EV / Sales 2023 1,44x
EV / Sales 2024 1,19x
Nbr of Employees -
Free-Float 88,8%
Duration : Period :
QinetiQ Group plc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends QINETIQ GROUP PLC
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 8
Last Close Price 345,20 GBX
Average target price 416,25 GBX
Spread / Average Target 20,6%
EPS Revisions
Managers and Directors
Steve Wadey Group Chief Executive Officer & Executive Director
Caroline Borg Chief Financial Officer & Director
Neil Anthony Johnson Chairman
Ian Beresford Group Function Director-Technical
James Willis Managing Director-Cyber, Information & Training
Sector and Competitors