Core Insights - Parsons Corporation has been awarded a $593 million contract extension under the FAA's Technical Support Services Contract 5 (TSSC 5), which has a total ceiling value of $1.8 billion and extends performance through 2030 [1][2] Group 1: Contract Details - The contract extension exercises the first option period of TSSC 5, which supports the FAA's Aviation System Capital Investment Plan (CIP) [1][2] - TSSC 5 includes a four-year base period and two additional three-year option periods, allowing for significant infrastructure and systems upgrades across the National Airspace System (NAS) [1][2] Group 2: Parsons' Role and Expertise - Parsons has over five decades of experience supporting the FAA in modernizing the U.S. National Airspace System, providing a range of services including program management, engineering, and construction management [3][4] - The company is recognized as the number one program management firm by Engineering News-Record in 2025, emphasizing its capability in delivering large-scale programs through an agile and innovative approach [4] Group 3: Impact on Aviation Infrastructure - Under TSSC 5, Parsons manages upgrades to critical navigation, communications, power, radar, and surveillance systems, enhancing the FAA's ability to meet modernization schedules and reduce program risks [2][3] - The company operates across more than 600 FAA and stakeholder sites, showcasing its extensive reach and operational capacity in the aviation sector [3]