All NASA Contracts — February 04, 2026

Two non-competed delivery orders totaling $482M obligation ($632M with options) for Mars Science Lab and Reconnaissance Orbiter through 2028, with 77-82% outlayed, indicate sustained NASA priority.

SwRI's 22-year $377M MMS contract has only $80M (21%) outlayed despite 2004 award, nearing 2026 end.

Long performance periods (10-22 years) expose to mission delays, funding cuts; low MMS outlay (21%) signals potential de-obligation.

Non-competed awards to Caltech (two contracts) and full/open but aging SwRI contract limit visibility into alternatives.

$135M unexercised options across contracts (SwRI $15M, Caltech $88M + $63M) could boost total value to $1.02B.

Caltech's dominance in Mars R&D (Phase E, Science Lab) positions for follow-ons as 2028 end nears.

All awards to nonprofits (Caltech x2, SwRI) via cost-plus-fixed-fee for Mars/magnetospheric R&D, bypassing small biz set-asides.

56% value to Caltech/JPL Mars missions vs. single MMS award highlights planetary science priority over magnetospheric.

{"entity"=>"California Institute of Technology", "reason"=>"56% value concentration with $87M options and 2028 end-date approaching.", "trigger"=>"Option exercises or Phase F follow-ons >$100M"}

{"entity"=>"Southwest Research Institute", "reason"=>"MMS nearing 2026 close with low 21% outlay and $15M options.", "trigger"=>"Funding de-obligation or new PI-led mission award"}