Aerojet to develop propulsion solution for Lockheed's long-range missile

Aerojet Rocketdyne Holdings

21/06/2023 17:57

June 21 (Reuters) - Rocket engine maker Aerojet
Rocketdyne  AJRD.N  says it will develop a propulsion system for
the Long Range Maneuverable Fires (LRMF) missile that Lockheed
Martin  LMT.N  is making for the U.S. Army.
    There is a rising demand for missiles fueled by the Ukraine
conflict and geopolitical uncertainties, as countries seek to
bolster their defenses. 
    LRMF missiles could be launched from existing U.S. Army
launchers to engage targets from a longer range, serving as a
powerful deterrent. 
    The announcement comes a day after Reuters reported Lockheed
had raised concerns with the U.S. Defense Department and the
Federal Trade Commission (FTC) about L3Harris'  LHX.N 
acquisition of Aerojet. 
    Last year, Lockheed offered to buy Aerojet in a $4.4 billion
deal but walked away from the acquisition after the FTC sued to
block the deal, citing concerns Lockheed could hinder
competitors' fair access to Aerojet products.
     
    

 (Reporting by Pratyush Thakur in Bengaluru; Editing by Krishna
Chandra Eluri)
 ((pratyush.thakur@thomsonreuters.com;))