Leidos (NYSE: LDOS) has received a U.S. Army contract valued at up to $127 million to continue operating its Airborne Reconnaissance and Targeting Exploitation Multi-Mission Intelligence System, known as ARTEMIS, according to a company press release.

The contract extends ARTEMIS intelligence, surveillance, and reconnaissance operations within the U.S. European Command area of responsibility through the summer of 2027, with two additional option years. Leidos has supported the mission since 2020.

The system is built around a modified Bombardier Challenger 650 aircraft and operates under a Contractor-Owned, Contractor-Operated model in which Leidos provides the aircraft, mission systems, flight operations, and support services. The platform is described as capable of operating at high altitude and deployable globally.

Jason McCarthy, Leidos senior vice president of Airborne & Mission Solutions, said: "ARTEMIS combines the flexibility of commercial aircraft with military-grade sensing to deliver timely intelligence wherever commanders need it."

The contract was awarded through the Army's Common Hardware Systems-6 program, which provides the U.S. Army, other military branches, and federal agencies with procurement access to C5ISR hardware and services.

Leidos, headquartered in Reston, Virginia, reported annual revenues of approximately $17.2 billion for the fiscal year ended January 2, 2026, and employs approximately 50,000 people globally.