The extension is for a five-year base period of performance and is worth about $248.5 million. Cobham, however, said the anticipated value if worth were to carry through to 2019 would be about $301.2 million.
"We have successfully adapted our operational readiness training to meet the needs of the Armed Forces through to the end of 2019, using the extensive technology and know-how we have developed since the service was first introduced in the mid-1980s," said Cobham Chief Executive Officer Bob Murphy.
"We look forward to further developing this highly effective partnership with the MoD."
The operational readiness training services are provided to personnel operating Eurofighter Typhoon aircraft and Type 45 destroyers.
Cobham said most of the training for fighter personnel is conducted in Britain. Its services will also support overseas detachments.