KVH Receives Orders Totaling $6.7 Million for TACNAV Tactical Navigation Systems
KVH to supply fiber optic gyro (FOG)-based systems for military customer
7:00 am ET September 25, 2019
KVH Industries, Inc., (Nasdaq: KVHI), announced today that it has received two orders totaling $6.7 million for its fiber optic gyro (FOG)-based TACNAV tactical navigation systems for use by military customers. Revenue from one of these orders will be completed in 2019; revenue from the other order is expected to begin in the fourth quarter of 2019 and continue through 2021.
"KVH's TACNAV tactical navigation solution provides precision navigation as well as coordination of military vehicles in critical situations," says Dan Conway, executive vice president of KVH's inertial navigation group. "The system serves as a crucial resource for navigation and battle management, and as an alternative source of heading, position, and navigation in GPS-denied environments, helping keep soldiers safe and out of harm's way wherever they travel. These new orders reaffirm the value of KVH's TACNAV products and add to our backlog."
KVH's FOG-based TACNAV military vehicle navigation systems provide unjammable precision navigation, heading, and pointing data for vehicle drivers, crews, and commanders. TACNAV also serves as a heading and position source for situational awareness.
KVH's widely-fielded TACNAV systems are currently in use by the U.S. Army and Marine Corps, as well as many allied customers including Canada, Sweden, Great Britain, France, Germany, Spain, Egypt, Botswana, Australia, New Zealand, Saudi Arabia, Taiwan, Romania, Poland, Turkey, Malaysia, Switzerland, South Korea, Singapore, Brazil, UAE, and Italy.
Note to Editors: For more information about KVH's FOG-based TACNAV systems, please visit the KVH website, kvh.com/tacnav. High-resolution images of KVH products are available at the KVH Press Room Image Library, kvh.com/Press-Room/Image-Library. |
