PAR Government shares in $900M Space Force contract

by Staff Writers
New Hartford NY (SPX) Aug 25, 2023
PAR Technology Corporation (NYSE: PAR) reports that its wholly owned subsidiary PAR Government Systems Corporation, in close partnership with ICEYE US, the leading commercial provider of space-based radar capabilities, has signed a prime contract award for the Proliferated Low Earth Orbit (PLEO) Satellite-Based Services initiative led by the U.S. Space Force.

The contract serves as a mechanism for satellite-based services and capabilities to support all domains (space, air, land, maritime, cyber) with consistent, quality backed, low-latency offerings. PAR Government was one of 16 awardees on the PLEO Indefinite Delivery, Indefinite Quantity (ID/IQ) effort, which has a $900M ceiling over five years, with five-year option periods.

Under the direction of Space Systems Command, the ID/IQ effort was orchestrated by the Commercial Satellite Communications Office (CSCO) and is intended to support U.S. Combatant Commands, defense agencies, other federal government agencies, and international coalition partners.

"PAR Government is an innovative leader in the development, management, and delivery of critical, tactical-edge capabilities for our nation's warfighters. We are enabling timely delivery of commercial space-based services and products directly to the mobile platforms being used by our nation's defenders at the tactical edge. To that end, the PAR Government team includes best-in-class Synthetic Aperture Radar (SAR) constellation capabilities provided by key partner ICEYE US," said Michael Nelson, president, PAR Government. "Delivering critical services and information through the PLEO effort exemplifies PAR's mission of continuously improving the operational effectiveness of our military and our allies."

PAR Government's subsidiary, Rome Research Corporation (RRC), is also included in the contract award. RRC has partnered with the Department of Defense (DOD) customers to provide award-winning satellite communications and space-related operations and maintenance services, including 24/7/365 terrestrial communication systems support, IT-related support, telecommunications engineering, and installation services, and ensures the functionality and positioning of government satellite assets for defense agencies worldwide. To date, RRC's DOD customers have won more than 80 Defense Information Systems Agency (DISA) facility awards.

"PAR Government and ICEYE US have joined forces to create 'strength-on-strength' value for the United States Space Force, our military, and allied partners. We are grateful for the opportunity to deliver near-real time persistent monitoring services to decision makers across the DOD under the guidance of Space Systems Command," said Eric Jensen, CEO at ICEYE US.

ICEYE US builds and operates a constellation of small synthetic aperture radar (SAR) satellites, enabling hourly revisit of any location on earth wherein insights can be derived day, night and through cloud cover. Combined with ICEYE US advanced processing techniques, end users receive reliable, relevant information across various mission applications. PAR Government and ICEYE US are committed to advancing the state of the art concerning commercial sector integration for the United States Space Force.

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Artificial Intelligence Analysis

Defense Industry Analyst: 9/10

Stock Market Analyst: 7 /10

General Industry Analyst: 8/10

Analyst

Summary

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PAR Technology Corporation (NYSE:PAR) has reported that its wholly owned subsidiary PAR Government Systems Corporation has signed a prime contract award for the Proliferated Low Earth Orbit (PLEO) Satellite Based Services initiative led by the U.S. Space Force. The contract serves as a mechanism for satellite based services and capabilities to support all domains, including space, air, land, maritime, and cyber. PAR Government was one of 16 awardees on the effort, which has a $900M ceiling over five years, with five year option periods. Rome Research Corporation (RRC), a subsidiary of PAR Government, is also included in the contract award. This is an important development for PAR Technology and its partners as it furthers their mission of delivering critical services and information to the mobile platforms of the U.S. military and its allies. This award highlights the continued importance of the Space Forces mission and the growing significance of space-based services and capabilities.

When comparing this articles content to significant events and trends in the space and defense industry over the past 25 years, there is a notable correlation between the increased focus on space-based services and the rise of the U.S. Space Force. This is an indication that the U.S. government is recognizing the importance of space-based capabilities and technology for national defense. Additionally, the value of the contract highlights the significant investment in the space industry, which has been steadily increasing over the past 25 years.

Potential Investigative

Question:

• 1. What are the specific capabilities that the PLEO Satellite Based Services initiative is providing?

• 2. How is the U.S. Space Force leveraging the services provided by PAR Government and its partners?

• 3.

What other companies were included in the contract award?

4. How have commercial space-based services evolved over the past 25 years?

5. What are the potential implications of this contract award for the space and defense industry?

This AI report is generated by a sophisticated prompt to a ChatGPT API. Our editors clean text for presentation, but preserve AI thought for our collective observation. Please comment and ask questions about AI use by Spacedaily. We appreciate your support and contribution to better trade news.

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