Cubic Corporation is the parent company of three major business segments: Defense Systems, Mission Support Services and Transportation Systems. Cubic Defense Systems is a leading provider of realistic combat training systems, cyber technologies, asset tracking solutions, and defense electronics. Mission Support Services is a leading provider of training, operations, maintenance, technical and other support services for U.S. and allied military and security forces. Cubic Transportation Systems is the world’s leading provider of automated fare collection systems and services for public transit authorities. For more information about Cubic, see the company's website at www.cubic.com.
SAN DIEGO, California – February 2, 2012 – Cubic Defense Applications, a defense systems business of Cubic Corporation (NYSE: CUB), has been awarded a new contract with a value of over $30 million for its P5 Combat Training System/Tactical Combat Training System (P5CTS/TCTS). This new contract provides additional equipment for the Red Flag Alaska exercise and equipment for the Red Flag Nellis exercises.
Under Cubic’s newest contract with the U.S. Air Force Range Instrumentation Systems Branch (USAF/EBYI), Cubic and principal subcontractor DRS Training and Control Systems LLC, a unit of DRS Defense Solutions LLC, will provide airborne instrumentation subsystems to various U.S. Air Force bases and several types of ground subsystems including live monitoring capability. Deliveries will be completed in the first half of 2013.
According to Rudi Woodward, Chief of Range Instrumentation at HQ Air Combat Command A3AR, many of the pods will go to the Joint Pacific Alaska Range Complex to supplement training efforts there. Cubic previously delivered P5 ground subsystem infrastructure to Eielson AFB, Alaska.
“This contract will improve air combat training at the Joint Pacific Alaska Range Complex by providing a more robust ground subsystem infrastructure and a supply of pods to be used by visiting squadrons,” said Jim Rower, Program Director for P5CTS/TCTS at Cubic Defense Applications.
The remaining pods will go to Nellis Air Force Base, Nevada, for use at the original Red Flag venue and other Air Force installations.
The new contract brings to more than $400 million the total value of P5 sales since Cubic and DRS were awarded their first contract in 2003. This sales figure includes U.S. orders, Foreign Military Sales, and a development contract from Lockheed Martin for an embedded version of P5CTS planned for the F-35 Lightning II Joint Strike Fighter. The P5CTS/TCTS airborne subsystem, or pod, and associated components are produced at DRS Training and Control Systems facility in Fort Walton Beach, Florida. The P5CTS/TCTS ground subsystems, including live monitoring capability, are produced at Cubic Defense Applications facility in San Diego. Additionally, Cubic is the overall systems integrator for P5CTS/TCTS.
“The U.S. Air Forces’ decision to issue a follow-on contract for the purchase of additional P5CTS/TCTS equipment is a testament to the superior training capabilities provided to our fighter pilots,” said Philip J. Fisch, Senior Director of Business Development for Cubic Defense Applications. “Our system has been deployed to most fighter/attack squadrons in the United States as well as supporting USAF squadrons in Europe. There are also a growing number of foreign nations that have purchased P5CTS/TCTS systems and more are requesting this capability every day. All foreign Air Forces that fly fighter or attack jets or conduct joint exercises and training with the U.S. should have a P5 system to maximize their training capabilities.”