Cubic and its principal subcontractor DRS will deliver the system in late 2012.
The new system is interoperable with the F-35 Joint Strike Fighter, which Australia plans to purchase.
Cubic said P5TCTS will include DRS-built airborne instrumentation pods.
The training system will also include transportable ground systems with live monitor and portable ground subsystems.
Cubic was also contracted to provide software and hardware to ensure its Air Combat Maneuvering Instrumentation operates and is capable of merging data for post-mission debriefing between the older Hornet systems and Super Hornet aircrews.