Amentum Awarded Up To $4 Bln 10-Year Space Force Range Contract By USSF

Amentum Holdings (AMTM) has secured the Space Force Range Contract (SFRC) from the U.S. Space Force, a 10-year indefinite delivery/indefinite quantity (IDIQ) agreement with a ceiling value of $4 billion. This significant award tasks Amentum with modernizing the Launch and Test Range System (LTRS) across key space bases, providing comprehensive engineering and operational solutions to enable efficient, high-cadence multi-user spaceports for national security and commercial operations. The contract solidifies Amentum's position in critical defense and space infrastructure, ensuring a substantial long-term revenue stream.

Analysis

Amentum Holdings (AMTM) has secured a strategically significant, 10-year indefinite delivery/indefinite quantity (IDIQ) contract with the U.S. Space Force, carrying a ceiling value of $4 billion. This award for the Space Force Range Contract (SFRC) is not merely a revenue event but positions Amentum as a critical partner in the modernization of the nation's core space launch infrastructure, the Launch and Test Range System (LTRS). The scope is comprehensive, encompassing systems engineering, cybersecurity, logistics, and program management, underscoring Amentum's integrated capabilities. The contract, commencing June 1, 2025, provides a substantial and long-duration revenue pipeline, enhancing the company's forward-looking financial stability and growth profile. By supporting the transition to high-cadence, multi-user spaceports, Amentum is directly aligned with the key strategic objective of enabling expanded national security and commercial space activities, placing it at the center of a major secular growth trend.

Key Decisions for Investors

• The $4 billion ceiling on this 10-year contract provides significant long-term revenue visibility, reinforcing the bull case for Amentum as a core holding in the aerospace and defense sector.
• Investors should monitor the rate at which Amentum secures specific task orders against the IDIQ ceiling, as this will be the primary driver of actual revenue recognized from this contract starting in mid-2025.
• This award significantly strengthens Amentum's competitive positioning for future government contracts related to space infrastructure and defense modernization, warranting a potential re-evaluation of the company's long-term growth multiple.