QinetiQ Group plc announced that it has won a 5-year $170 million contract with the US Department of Homeland Security for the Tethered Aerostat Radar System (TARS). TARS is the new business competitive win for Avantus since acquisition last year and builds on recent significant contract awards, reported in Interim Results last week. This win takes the total new contract awards this year for Avantus to $827 million, equivalent to more than 2.5x years of revenue cover.

These major contract wins deliver new incremental business, building momentum to deliver strong revenue growth in the second half of this year and beyond, underpinning confidence that Avantus will deliver double-digit revenue growth at stable margin into the medium term. Avantus has transformed customer access in the US, expanding customer base and creating a disruptive mid-tier business in the US. During the first half of the year, have also identified new business opportunities worth an additional $1.5 billion over the next five years, created through the combination of capabilities across the US and other markets to drive future growth plan.

TARS provides detection, tracking and monitoring capabilities in diverse environments at and beyond the US borders. Under this 5-year contract, QinetiQ will deliver aerostat operations, air-surface radar operations, ground control and data networking systems monitoring, and data analysis in support of border security and air sovereignty missions. The programme will be delivered through the provision of mission support, operations and maintenance, and lifecycle and programme management.