Kratos Awarded $12.7 Million Task Order to Complete Cost Optimized Turbojet Engine for Future Cruise Missiles and Attritable UAVs

Rhea-AI Summary

Kratos Defense & Security Solutions (Nasdaq: KTOS) has secured a $12.7 million task order for its Advanced Turbine Technologies for Affordable Mission (ATTAM) contract. Managed by the Air Force Research Laboratory, the project involves the development of a turbojet engine intended for low-cost cruise missiles and UAVs. The engine testing at Kratos’ facility in Florida demonstrated effective performance metrics, including thrust and fuel efficiency. This award aims to complete engine development for subsequent flight tests, reinforcing Kratos' commitment to providing affordable turbine technologies to enhance national security.

Positive

• Secured a $12.7 million task order under ATTAM contract.
• Successful ground testing of a turbojet engine designed for low-cost cruise missiles and UAVs.
• Demonstrated engine performance metrics such as thrust and fuel efficiency.
• Completion of engine development will bolster future flight testing capabilities.

Negative

• None.

SAN DIEGO, Jan. 12, 2021 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a leading National Security Solutions provider, announced today that Kratos’ Turbine Technologies Division (KTT) has been awarded a $12.7 million task order under its Advanced Turbine Technologies for Affordable Mission (ATTAM) ID/IQ contract. The program will be managed by the Turbine Engine Division of the Air Force Research Laboratory (AFRL/RQT). The award follows the successful ground testing of an affordable turbojet designed for use in future low-cost cruise missiles and attritable Unmanned Aerial Vehicles (UAVs).    The design and test of the 200lb thrust-class turbojet engine was completed in under 18 months, demonstrating Kratos’ ability to meet the needs of today’s warfighter. Testing included characterization of the engine from ignition to overspeed conditions, characterization of engine performance including thrust, fuel efficiency and electrical power output, and engine durability. Testing was performed at the recently commissioned Kratos engine-test facility in Indiantown, Florida.

The objective of the awarded task order is to complete the engine development for flight testing and to demonstrate the targeted life low-cost engine architecture. Work will be performed by KTT in Florida.

Stacey Rock, President of Kratos’ Turbine Technologies Division, said, “The recent demonstration of our advanced engine architecture is another important milestone in our commitment to provide affordable, high-performance turbine engines. All of Kratos is focused on supporting the United States warfighter and industrial base, including making significant investments in the development and production of next generation engines and supporting STEM opportunities in the USA. We look forward to continuing to support the AFRL in the development of transformative and affordable turbine engine technologies.”

About Kratos Defense & Security Solutions
Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS) develops and fields transformative, affordable technology, platforms and systems for United States National Security related customers, allies and commercial enterprises. Kratos is changing the way breakthrough technology for these industries are rapidly brought to market through proven commercial and venture capital backed approaches, including proactive research and streamlined development processes. At Kratos, affordability is a technology and we specialize in unmanned systems, satellite communications, cyber security/warfare, microwave electronics, missile defense, hypersonic systems, training, combat systems and next generation turbo jet and turbo fan engine development. For more information go to www.KratosDefense.com.

Notice Regarding Forward-Looking Statements
Certain statements in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of the management of Kratos and are subject to significant risks and uncertainty. Investors are cautioned not to place undue reliance on any such forward-looking statements. All such forward-looking statements speak only as of the date they are made, and Kratos undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise. Although Kratos believes that the expectations reflected in these forward-looking statements are reasonable, these statements involve many risks and uncertainties that may cause actual results to differ materially from what may be expressed or implied in these forward-looking statements. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Kratos in general, see the risk disclosures in the Annual Report on Form 10-K of Kratos for the year ended December 29, 2019, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.

Press Contact:
Yolanda White
858-812-7302 Direct
Investor Information:
877-934-4687
investor@kratosdefense.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/60027e50-d0e8-4ae6-b657-0f9b9a56a7a2

FAQ

What was announced by Kratos Defense on January 12, 2021?

Kratos Defense announced a $12.7 million task order awarded to its Turbine Technologies Division under the ATTAM contract.

What is the purpose of the $12.7 million task order awarded to Kratos?

The task order aims to complete the development of a low-cost turbojet engine for flight testing.

Who manages the task order awarded to Kratos for engine development?

The task order is managed by the Air Force Research Laboratory.

What is the significance of the turbojet engine tested by Kratos?

The turbojet engine is designed for use in future low-cost cruise missiles and UAVs, contributing to national security.

How long did it take for Kratos to complete the design and testing of the turbojet engine?

The design and testing of the turbojet engine were completed in under 18 months.