Tetra Tech Inc. (TTEK) announced that it has been awarded the $200 million Navigation Technical Assistance Contract (NAVTAC) with the Federal Aviation Administration (FAA). The initial contract is for $70 million, but would grow to $200 million over seven years if all options are exercised.
 
Tetra Tech will provide engineering and technical support services for the planning, research, development, implementation and decommissioning of FAA’s navigation, landing, and lighting systems.
 
Tetra Tech will also help the FAA transition to integrated ground- and space-based navigation systems architecture and will support the FAA’s modernization initiatives, including its Next Generation Air Transportation System efforts.
 
Tetra Tech currently serves as program manager for the FAA Air Traffic Organization’s Information Technology Support Services Contract (ITSSC) and has helped the FAA deploy satellite navigation technologies under NAVTAC predecessor contracts held since 1998.
 
Tetra Tech Inc. provides consulting, engineering, construction, and technical services for resource management and infrastructure in the United States and beyond. Its services include applied science, research and technology, engineering, design, construction management, construction, operations and maintenance, and information technology. The company operates in three segments: Resource Management, Infrastructure and Communications. The company was founded in 1966 and is headquartered in Pasadena, California. Its major competitors include Shaw Group Inc. (SHAW) and URS Corp. (URS).
 
We currently have a Neutral recommendation on TTEK.
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