Officials have informed that the Swedish Defense Materiel Administration selected Saab to begin development of a next-generation avionics technology for the Gripen fighter aircraft.

Swedish defense company Saab received the award as part of an effort by the Swedish air force to extend the life cycle of its Gripen fleet through the integration of new computers and display technologies.

The new avionics system will also be designed to handle large quantities of complex information and be integrated with next-generation sensors, Saab has said.

The contract is worth approximately $56.9 million. Saab says new avionics technology is expected to be integrated into the fleet of Gripen by 2020.

Saab Vice President Lennart Sindahl said in a statement, "Computers with the best performance possible today will be viewed as inadequate for the tasks facing Gripen in 10 years, when the aircraft must remain modern for a further 20 years." (With Inputs from Agencies)