ARLINGTON (dpa-AFX) - BAE Systems plc (BA.L), Tuesday announced that the company has received a $48 million contract from Air Force Research Laboratory to further develop the Insight, a next-generation Intelligence, Surveillance, and Reconnaissance exploitation and resource management system.
Under the project, the British company would focus on development and integration with airborne applications, as well as refine the Insight system to meet operational requirements, integrate with operational systems, and conduct demonstrations for transition opportunities.
Currently, BAE Systems's stock is trading at 1,270.50 pence, up 0.16 percent on the London Stock Exchange.
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