Redwire announced Tuesday it has been awarded a position on the Missile Defense Agency’s Scalable Homeland Innovative Enterprise Layered Defense (SHIELD) indefinite-delivery/indefinite-quantity contract, which has a ceiling value of $151 billion.
Redwire shares surged 28.7% in morning trading. Other space stocks also jumped. Sidus Space and Planet Labs rose 7%; Firefly Aerospace rose 6%; BlackSky Technology, Rocket Lab, and Voyager Technologies rose 5%; Intuitive Machines rose 2%.
The multi-award contract will support rapid delivery of capabilities to warfighters with increased speed and agility, according to a company press release. The agreement encompasses a broad range of work areas, though there is no guaranteed revenue associated with the IDIQ award.
Redwire, which specializes in space and defense technology solutions, employs approximately 1,300 people across the United States and Europe. The company’s portfolio includes unmanned aerial systems, advanced sensors, maneuverable spacecraft platforms, and modeling and simulation technologies.
"Redwire’s proven space and defense technologies position us to deliver resilient, multi-domain solutions for national security missions," said Peter Cannito, Chairman and CEO of Redwire, in the announcement.
The SHIELD contract represents a significant procurement vehicle through which the Missile Defense Agency can acquire various technologies and services from selected contractors. As an IDIQ contract, individual task orders will be competed among the pool of awardees.
Redwire, which trades on the New York Stock Exchange, focuses on aerospace infrastructure, autonomous systems, and multi-domain operations leveraging digital engineering and AI automation.