Frequency Electronics Secures $8 Million Contract for Lunar Mission Atomic Clocks
Frequency Electronics (FEIM) has secured an approximately $8 million follow-on production contract to supply high-precision atomic clocks for lunar space missions. These devices are critical for position, navigation, and timing capabilities in support of future exploration efforts on the Moon. The new order builds upon existing contracts with government and aerospace clients, reinforcing Frequency Electronics' role as a key supplier in advanced timekeeping technology. The company has previously announced $18 million in additional aerospace and defense orders recently and is targeting at least $150 million in revenue by fiscal 2029. With a funded backlog of over $111 million, the firm appears well-positioned to meet its financial goals despite mixed performance in recent quarters. The latest contract further diversifies Frequency Electronics' portfolio within high-growth sectors like space exploration.
Tickers: $FEIM