Cubic Wins $32 Million Contract to Deliver P5 Combat Training System for the F-35

Rhea-AI Summary

Cubic Corporation (NYSE:CUB) has secured a $32 million contract from Lockheed Martin for additional production lots of the P5 Combat Training System (P5CTS) for the F-35 Lightning II. This order will boost the total F-35 P5 systems on contract to over 1,150, ensuring deployment through 2025. The P5 system is recognized as the only fielded encrypted Air Combat Maneuvering Instrumentation (ACMI) designed for fifth-generation aircraft. This advanced training solution is integral for military readiness and coalition training across 30 global ranges.

Positive

• Awarded $32 million contract enhances revenue.
• Total order for F-35 P5 systems now exceeds 1,150, indicating strong demand.
• The P5 system's unique capabilities for fifth-generation aircraft position Cubic favorably in defense contracts.

Negative

• None.

Cubic Corporation (NYSE:CUB) today announced its Cubic Mission and Performance Solutions (CMPS) business division was awarded a contract worth $32 million from Lockheed Martin for two more production lots of the P5 Combat Training System (P5CTS) for the F-35 Lightning II. Under the contract, Cubic will deliver over 150 training subsystems for Lockheed Martin’s F-35 Air Combat Maneuvering Instrumentation (ACMI) system. This new order increases the total number of F-35 P5 on contract to over 1,150 and ensures fielding of F-35 P5 out to 2025.

Unlike traditional P5 podded solutions for fourth generation fighter aircraft, the F-35 P5 is an Internal Subsystem (IS) configuration that relays Time, Space and Position Information (TSPI) between participating aircraft and range ground stations during training sorties. Cubic’s F-35 P5 is the only fielded encrypted ACMI solution for fifth generation fighter aircraft that connects directly to the aircraft bus to access necessary data to accurately run weapons simulations.

“Our advanced and interoperable P5CTS is used on more than 30 ranges worldwide and continues to set the standard for joint, multiservice and coalition training,” said Mike Knowles, president of Cubic Mission and Performance Solutions. “Training for today’s advanced threats to air combat operations requires adaptable, high-fidelity training tools. Cubic’s P5CTS provides secure and scalable instrumentation solutions that enable integrated fourth- and fifth-generation training for our U.S. forces, allies and partners.”

The worldwide P5 infrastructure includes the integration of P5 pods and internal subsystems, ground stations and software, and is an investment shared by 17 countries. A recent upgrade to this training infrastructure is the integration of decryptors in the P5 ground stations to enable F-35 live monitoring at training ranges.

Cubic and its principal subcontractor, Leonardo DRS, will continue to produce and maintain the F-35 P5 internal subsystem. The Leonardo DRS Airborne and Intelligence Systems business division is responsible for the design and production of the airborne P5CTS Internal Subsystem.

About Cubic Corporation

Cubic is a technology-driven, market-leading provider of integrated solutions that increase situational understanding for transportation, defense C4ISR, and training customers worldwide to decrease urban congestion and improve the militaries’ effectiveness and operational readiness. Our teams innovate to make a positive difference in people’s lives. We simplify their daily journeys. We promote mission success and safety for those who serve their nation. For more information about Cubic, please visit www.cubic.com or on Twitter @CubicCorp.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210218005991/en/

FAQ

What is the recent contract awarded to Cubic Corporation regarding the F-35?

Cubic Corporation was awarded a $32 million contract from Lockheed Martin for additional production lots of the P5 Combat Training System for the F-35 Lightning II.

How many P5 Combat Training Systems has Cubic secured in total for the F-35?

With the new order, the total number of F-35 P5 systems on contract has reached over 1,150.

What does the P5 Combat Training System offer for military training?

The P5 Combat Training System provides secure and scalable instrumentation solutions for integrated training of fourth- and fifth-generation aircraft.

Until when is the contract for the F-35 P5 combat system expected to be active?

The contract ensures the fielding of F-35 P5 systems extends out to 2025.