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    QQ.   GB00B0WMWD03

QINETIQ GROUP PLC

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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

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(C) 2022 M2 COMMUNICATIONS, source M2 PressWIRE

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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%
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