Aerojet Rocketdyne Selected to Power Lockheed Martin’s Next Generation Interceptor Program

Rhea-AI Summary

Aerojet Rocketdyne has been selected by Lockheed Martin to provide propulsion for the Next Generation Interceptor (NGI) program, as part of a contract awarded by the Missile Defense Agency (MDA) for the program's Technology Development phase. This initiative aims to enhance the U.S. missile defense system against intercontinental ballistic missiles. Aerojet Rocketdyne's CEO, Eileen P. Drake, emphasized the company's experience and advanced technologies, asserting their commitment to affordable propulsion solutions. The company supports several MDA programs with its propulsion systems.

Positive

• Awarded contract by MDA for NGI program indicating growth opportunities.
• Leveraging decades of experience in missile defense technology.
• Strong partnerships with industry leaders like Lockheed Martin.

Negative

• None.

HUNTSVILLE, Ala., March 23, 2021 (GLOBE NEWSWIRE) -- Aerojet Rocketdyne has been selected by Lockheed Martin to provide propulsion as a key member of their team supporting the Next Generation Interceptor (NGI) program. Lockheed Martin has been awarded a contract by the Missile Defense Agency (MDA) for the Technology Development phase of the NGI program, a key element of the MDA’s missile defense system, designed to intercept and destroy incoming intercontinental ballistic missiles.

“Aerojet Rocketdyne’s proven propulsion has been successful on Ground-based Midcourse Defense system flight tests. We’re now applying decades of missile defense experience combined with multiple advanced propulsion technologies to support the Next Generation Interceptor program,” said Eileen P. Drake, Aerojet Rocketdyne CEO and president. “We’re proud to partner with Lockheed Martin to enable our nation’s defense with innovative, affordable propulsion.”

Aerojet Rocketdyne provides industry-leading kill vehicle and kinetic warhead propulsion to all of the MDA programs currently in production, including the Ground-based Midcourse Defense system. Aerojet Rocketdyne provides a broad range of products to support our nation’s missile defense systems, including liquid & solid Divert & Attitude Control Systems, solid rocket boost motors and targets. The company delivers high performance, affordable propulsion due to its significant investments in technology, manufacturing affordability, facility modernization and a highly skilled workforce.

The views expressed are those of Aerojet Rocketdyne and do not constitute an endorsement by the Missile Defense Agency.

About Aerojet Rocketdyne: Aerojet Rocketdyne, a subsidiary of Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD), is a world-recognized aerospace and defense leader that provides propulsion systems and energetics to the space, missile defense and strategic systems, and tactical systems areas, in support of domestic and international customers. For more information, visit www.Rocket.com and www.AerojetRocketdyne.com. Follow Aerojet Rocketdyne and CEO Eileen Drake on Twitter at @AerojetRdyne and @DrakeEileen.

Media Contact:
Eileen Lainez, Aerojet Rocketdyne, 571-239-7839
Eileen.Lainez@rocket.com

FAQ

What is the significance of Aerojet Rocketdyne's contract with Lockheed Martin for the NGI program?

The contract signifies Aerojet Rocketdyne's role in enhancing U.S. missile defense capabilities, providing reliable propulsion systems to intercept threats.

When was Aerojet Rocketdyne selected for the NGI program?

Aerojet Rocketdyne was selected on March 23, 2021.

What is the stock symbol for Aerojet Rocketdyne?

The stock symbol for Aerojet Rocketdyne is AJRD.

How does Aerojet Rocketdyne's experience impact its involvement in the NGI program?

Aerojet Rocketdyne's extensive experience in propulsion for missile defense systems enhances the reliability and effectiveness of the NGI program.