Oceaneering International, Inc. (OII Quick QuoteOII - Free Report) has achieved a significant milestone, securing a multi-year contract with the U.S. Department of Defense in its Aerospace and Defense Technologies (ADTech) segment. With the highest initial contract value in its history, this contract highlights the company’s growing influence in maritime technology and its critical role in national security.

Oceaneering’s ADTech segment accounts for about 15% of the total company revenues and with this segment, the company expands beyond the energy sector, opening its doors for new market opportunities in various industries. In 2024, the ADTech segment delivered nearly $393 million in revenues and with the award of this contract, the company created a positive trajectory for the company and its stakeholders.

An Insight Into the Contract

The contract involves designing, building, testing and delivering an advanced maritime mobility system, further strengthening Oceaneering’s reputation as a trusted partner in defense technology. By leveraging its extensive experience in offshore energy, robotics and manufacturing, the company continues to drive innovation across multiple sectors.

This achievement not only validates Oceaneering’s technical capabilities but also cements its status as a key player in defense engineering. The company’s commitment to safe, reliable and high-performance solutions aligns seamlessly with the Department of Defense’s mission, ensuring operational excellence in maritime mobility.

Strengthening Partnerships for the Future

As Oceaneering is onboard this groundbreaking project, its long-standing relationship with the U.S. government is set for further growth. This contract highlights the company’s ability to deliver state-of-the-art technological solutions that meet the evolving needs of various industries.

Oceaneering’s latest achievement underscores the growing convergence between energy services and advanced technology solutions. As the company expands its footprint beyond traditional offshore operations, it sets a precedent for innovation-driven growth in the industry. This shift reflects a broader trend among energy service providers, increasingly diversifying their capabilities to stay competitive in a rapidly evolving market.

Two other energy majors leading the oil field services race are Halliburton Company (HAL Quick QuoteHAL - Free Report) and TechnipFMC plc (FTI Quick QuoteFTI - Free Report) .

Houston, TX-based Halliburton Company is one of the largest oilfield service providers in the world, offering a variety of equipment, maintenance, and engineering and construction services to the energy, industrial and government sectors.

London-based TechnipFMC plc is a leading manufacturer and supplier of products, services and fully integrated technology solutions for the energy industry.