Britain's Ministry of Defense has tapped Ascent Flight Training to design, deliver and manage its fixed-wing training service until 2033.

The contract, worth more than $1.57 billion, is to provide training aircraft and up-to-date ground-based training devices -- such as simulators and classroom learning -- for Royal Air Force, Royal Navy and Army Air Corps flight crews.

"This is fantastic news for the future of our military aircrew, providing them with a modern training system which will equip them to deliver on the front line," Minister of State for Defense Procurement Philip Dunne said.

"With our strong commitment to air power as part of the Strategic Defense and Security Review and our investment of �Pounds 178 billion [more than $2.54 billion] in equipment over the next 10 years, this contract is further proof of our commitment to invest in the UK's defense capabilities for the future, ensuring that we continue to be a world leader in military flying training."

The Ministry of Defense said training provided by Ascent Training will cover Elementary Flying Training, Basic Flying Training and Multi-Engine Pilot Training.

Multi-Engine Pilot Training will be in place from mid-2018, and the Basic Flying Training element by early 2019.

Ascent Flight Training is a joint venture in Britain of Lockheed Martin and Babcock International.