Kratos Receives Mayhem Hypersonic Missile Program Contract Award

Rhea-AI Summary

Kratos Defense & Security Solutions (NASDAQ: KTOS) has been awarded a contract by Leidos to support the development of an air-breathing hypersonic system under the Expendable Hypersonic Multi-Mission ISR and Strike Program, known as Mayhem. This contract will last 51 months and involves conducting the System Requirements Review and Conceptual Design Review. The project aims to enhance capabilities in hypersonic technology, utilizing scramjet engines. Kratos aims to produce high-performance hypersonic weapon systems through collaboration with industry partners.

Positive

• Awarded a 51-month contract by Leidos to support hypersonic system development.
• Part of a collaborative effort that leverages various industry expertise and capabilities.
• Focus on rapid technology insertion and high-performance system designs.
• Kratos has a track record of successfully developing hypersonic systems, enhancing its credibility.

Negative

• None.

Kratos is a member of the Leidos team recently selected by the U.S. Air Force Research Laboratory to develop an air-breathing hypersonic system.
 - Mayhem Artist Concept. Credit: AFRL and Leidos, is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a78e2664-250c-4ac7-93a7-640b55663f0e

SAN DIEGO, Jan. 10, 2023 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a leading National Security Solutions provider, announced today that its Defense & Rocket System Services (DRSS) Division, in collaboration with Kratos’ Unmanned Systems Division, has received a contract from its prime teammate and partner Leidos to support the Expendable Hypersonic Multi-Mission ISR (Intelligence, Surveillance, and Reconnaissance) and Strike Program, known as Mayhem. This new contract award will support the Air Force Research Laboratory’s (AFRL) development of an air-breathing hypersonic weapon system over its initial 51-month period of performance. The initial task order will conduct the System Requirements Review (SRR) and Conceptual Design Review (CoDR) in a Digital Engineering (DE) environment.

In partnership with Leidos, Kratos will serve as a member of the System Design Agent (SDA) team for the Mayhem program, which also includes Calspan and Draper. The SDA’s goal is to design a system that allows rapid relevant technology insertions utilizing the expertise and capabilities from a variety of industry partners. The role of the SDA for this program will also include bringing the best of industry together to perform research and development necessary for production of air-breathing multi-mission hypersonic system prototypes. The SDA will oversee designs, prototypes, and tests to ultimately produce and deliver a technical data package for high performance, relevant hypersonic weapon systems.

Air-breathing hypersonic systems use scramjet engines to generate thrust, propelling the vehicle across long distances at speeds greater than Mach 5. The SDA team is tasked with designing and developing a large-class version that surpasses current air-breathing systems in both range and payload capacity and is responsible for delivering a hypersonic system design to include airframe, propulsion system, booster, avionics, and vehicle subsystems.

“This opportunity will provide a unique capability for our Warfighters, and we’re excited to be part of the new Mayhem program. As a critical part of the SDA team, Kratos will drive mission success by leveraging our flight-proven agile digital engineering principles and extensive experience in high performance propulsion, hypersonic, and air vehicle design,” said Dave Carter, President of DRSS. “Kratos has successfully developed and flown several hypersonic “systems” over the last decade, and our internally funded hypersonic investments in unique systems, including Zeus and Erinyes are beginning to pay dividends in important national security solutions.”

Eric DeMarco, President and CEO of Kratos, said “Kratos’ mission is to be a disruptive transformation agent to the U.S. National Security industrial base and market, rapidly designing, developing, producing and fielding affordable systems and technology. The Mayhem Hypersonic Systems program award with our strategic partner Leidos is a recent representative example of our continued success.”

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 26, 2021, 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

FAQ

What contract did Kratos Defense receive from Leidos?

Kratos Defense received a contract to support the Expendable Hypersonic Multi-Mission ISR and Strike Program, known as Mayhem.

How long is the contract duration for KTOS with Leidos?

The contract duration is 51 months.

What are the goals of the Mayhem program?

The goals include developing an air-breathing hypersonic weapon system and conducting System Requirements and Conceptual Design Reviews.

What technology is Kratos focusing on in the Mayhem program?

Kratos is focusing on hypersonic technology utilizing scramjet engines for speed and range enhancements.