Sig Sauer will be the new US Army handgun

8 years ago - Published in Finance, Fundamental Analysis

Half a decade into its search for a new handgun, the US Army has chosen Sig Sauer's version of the Modular Handgun System, according to a Thursday announcement from the Army. The $580 million contract announced yesterday covers procurement over 10 years. Sig Sauer is a German Swiss company and will provide thousands of new handguns to the US military under the contract over the next decade, the Defense Department explained. 

The new sidearm will replace the M9 Beretta, the Army's pistol of choice for more than 30 years. 

"I am tremendously proud of the Modular Handgun System team," said Army acquisition executive Steffanie Easter in the release. "By maximizing full and open competition across our industry partners, we have optimized private sector advancements in handguns, ammunition and magazines and the end result will ensure a decidedly superior weapon system for our warfighters." 

The Army first announced the competition for the MHS back in 2011, but multiple delays left the most recent solicitation deadline at February of 2016.