Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS) shares descended, The San Diego-based company, a technology competitor in the defense, national security and global markets, and GE Aerospace (NYSE: GE) today announced that the GEK800 engine. This is a product development which received the U.S. Military Engine Type Designation F143-ZZ-100, has been awarded a contract with the United States Air Force for the Engineering, Manufacturing and Development (EMD) of the turbofan as a second-source propulsion system for the Joint Air-to-Surface Standoff Missile (JASSM).
The designation and contract mark advancement of the program designed to provide small, low-cost, high-performance engines for use in cruise missiles, collaborative combat-type aircraft, and other uncrewed aerial vehicles.
“The F143-ZZ-100 designation and EMD award are a testament to the strong performance and capability of the GEK800 engine and the strength of our partnership with Kratos. This reflects years of disciplined engineering to deliver propulsion systems that meet the evolving, mission-critical requirements of our military customers,” said GM Aerospace CEO Amy Gowder.
“Kratos has been working with our outstanding partner GE Aerospace and the United States Air Force to support the Department of War in reindustrializing U.S. manufacturing capacity and capability in the area of low cost, rapidly manufacturable, in large quantities, jet engines for drones, cruise missiles and other systems. Kratos and GE Aerospace are making significant investments with our government partners, to support U.S. National Security priorities,” said Kratos CEO Eric DeMarco.
KTOS shares fell $1.63, or 2.5%, to $62.94, while those for GE Aerospace dipped 12 cents to $368.26.
