DENVER--(BUSINESS WIRE)--Mar. 6, 2024--
Palantir Technologies Inc. (NYSE: PLTR) today announced that the Army Contracting Command – Aberdeen Proving Ground (ACC-APG) has awarded Palantir USG, Inc. — a wholly-owned subsidiary of Palantir Technologies Inc. — a prime agreement for the development and delivery of the Tactical Intelligence Targeting Access Node (TITAN) ground station system, the Army’s next-generation deep-sensing capability enabled by artificial intelligence and machine learning (AI/ML). The agreement, valued at $178.4 million, covers the development of 10 TITAN prototypes, including five Advanced and five Basic variants, as well as the integration of new critical technologies and the transition to fielding.
TITAN is a ground station that has access to Space, High Altitude, Aerial, and Terrestrial sensors to provide actionable targeting information for enhanced mission command and long range precision fires. Palantir’s TITAN solution is designed to maximize usability for Soldiers, incorporating tangible feedback and insights from Soldier touch points at every step of the development and configuration process. Building off Palantir’s prior work delivering AI capabilities for the warfighter, Palantir is deploying the Army’s first AI-defined vehicle.
TITAN seeks to enhance the automation of target recognition and geolocation from multiple sensors to reduce the sensor-to-shooter (S2S) timelines through target nominations and fuse the common intelligence picture. TITAN integrates systems, technologies, and software from an industry-defining team of traditional and non-traditional partners — including, Northrop Grumman, Anduril Industries, L3Harris Technologies, Pacific Defense, SNC, Strategic Technology Consulting, and World Wide Technology. These companies all share the Army’s imperative to build continuously evolving and innovative systems. Their mutual focus on openness, interoperability, and modularity enables the team to deliver modern capabilities to the warfighter at rapid speeds. This best-in-class offering is scalable, adaptable, and designed for the needs of a rapidly evolving threat environment.
“This award demonstrates the Army’s leadership in acquiring and fielding the emerging technologies needed to bolster U.S. defense in this era of software-defined warfare. Building on Palantir’s years of experience bringing AI-enabled capabilities to warfighters, Palantir is now proud to deliver the Army’s first AI-defined vehicle,” said Akash Jain, President, Palantir USG. “Soldiers deserve best-in-class technology that gives them the tactical advantage on the battlefield, allowing for real-time decisions at critical speeds. Palantir is honored to support this program, to continue its partnership with the Army, and to lead a team of innovative partners to build the next generation of capabilities.”
Palantir and its partners bring the experience and agility necessary to deliver a key Army modernization priority that is dependent on software-defined capabilities. As the prime, delivering both software and hardware, Palantir will provide the critical foundation to correlate, fuse, and integrate sensor data. The TITAN system will provide real-time actionable intelligence using AI/ML modeling to process increasing volume, velocity and variety of data that will be implemented at the tactical edge. TITAN will enable the Army to fuse, correlate, and integrate their intelligence data from a rapidly expanding series of sensors, enabling operational forces to obtain a full picture of their surroundings and make real-time decisions that will substantially increase the accuracy, precision, and effects of long-range precision fires.
This was awarded through an Other Transaction Authority (OTA) agreement, which allows the Army to leverage innovative solutions from non-traditional defense contractors. This award is a successful progression of the Army’s competitive, software-centric approach to the June 2022 competitive prototyping phase of the TITAN Program.
Disclosure Note: The views and conclusions contained herein are those of the authors and should not be interpreted as necessarily representing the official policies or endorsements, either expressed or implied, of the U.S. Government.
About Palantir Technologies Inc.
Foundational software of tomorrow. Delivered today. Additional information is available at https://www.palantir.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may relate to, but are not limited to, Palantir’s expectations regarding the amount and the terms of the contract and the expected benefits of our software platforms. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Forward-looking statements are based on information available at the time those statements are made and were based on current expectations as well as the beliefs and assumptions of management as of that time with respect to future events. These statements are subject to risks and uncertainties, many of which involve factors or circumstances that are beyond our control. These risks and uncertainties include our ability to meet the unique needs of our customer; the failure of our platforms to satisfy our customer or perform as desired; the frequency or severity of any software and implementation errors; our platforms’ reliability; and our customer’s ability to modify or terminate the contract. Additional information regarding these and other risks and uncertainties is included in the filings we make with the Securities and Exchange Commission from time to time. Except as required by law, we do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20240306864869/en/
Morgan Gress Johnson
media@palantir.com
Source: Palantir Technologies Inc.
