New US$261m Maritime Surveillance Contract Signed

SRT Marine Systems PLC

04 March 2026

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR"), AND IS DISCLOSED IN ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 17 OF MAR.

SRT MARINE SYSTEMS PLC

(AIM: SRT)

("SRT" or the "Company")

New US$261m Maritime Surveillance Contract Signed

SRT Marine Systems plc ('SRT'), a global provider of intelligent maritime surveillance and safety systems, is pleased to announce that it has signed a new contract with a new sovereign customer to supply a national SRT-MDA System with a total value of US$261 million.

In September 2025, we announced the receipt of a contract award notification and advised that the final expected value of the final contract would be approximately US$200 million. Today's announcement confirms that the formal project contract has now been signed, with a final value of US$261 million. The signing took place at a formal event at the customer's premises, attended by senior representatives from the customer, the UK Government, UKEF and SRT.

Activation of the project contract, and thus commencement of implementation, is subject to completion of a UKEF-supported project finance package, upon which work has now commenced.   

Given the current geo-political circumstances in the Middle East, we also take this opportunity to provide a brief update on our other existing projects and systems. Today, we have projects being successfully implemented and operated across Asia and the Middle East. The current challenges in the Middle East have highlighted the critical importance of sovereigns having their own independent civil defence and surveillance systems, and we continue to make good progress working alongside all our sovereign partners and their MDA programs and operations.

Simon Tucker, SRT CEO, said: "We are delighted to welcome this new customer to our Sovereign Partnership Program and look forward to executing on this first US$261m contract, while working with them over the long term to build up their surveillance capabilities.

Our SRT-MDA System will provide continuous maritime domain situational awareness by integrating multiple sensors, data and operational workflows to support intelligence-led operations, maritime safety and law enforcement. As a modular system, it is designed to scale over time and thereby enable this customer to continue evolving their capabilities in the future.

Following today's new contract signing, SRT has approximately £340 million of active projects under implementation, a further US$261 million contract now signed and pending commencement, and a new-contract prospects pipeline with an estimated value of up to £1.8 billion. This pipeline of active and pending contracts reflects growing demand for independent sovereign MDA capabilities, our national scale integrated MDA technologies and SRT's successful project delivery track record."

For further information, please contact:
SRT Marine Systems plc		www.srt-marine.com + 44 (0) 1761 409500
Simon Tucker (CEO)		[e-mail]
Kevin Finn (Chairman)		[e-mail]
Nora Alakshan (Corporate Communications Manager)		[e-mail]
Cavendish Capital Markets Limited (NOMAD & Broker)
Jonny Franklin-Adams / Teddy Whiley / Finn Gordon (Corporate Finance)		[phone]
Sunila de Silva (Corporate Broking)

About SRT Marine Systems plc:

SRT Marine Systems PLC is a global provider of civil defence maritime intelligence and surveillance systems and navigation safety and efficiency solutions. Our systems provide MDA intelligence that enable sovereign agencies such as Coast Guards and Fishery Authorities to adopt a new nationwide intelligence lead operations doctrine which is highly effective and efficient for maritime safety and security. Our navigation safety systems enable vessel operators to navigate digitally more safely and efficiently. Our customers range from government agencies such as Coast Guards, Fishery Authorities and Ports & Waterway authorities to commercial and leisure vessel owners. 

 

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