GE Aerospace and Kratos Partner on Small Affordable
Engines
Agreement covers development and production of
small affordable engines for possible use in unmanned
aerial systems, collaborative combat aircraft,
and similar applications
FARNBOROUGH, United Kingdom, July 22, 2024
(GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc.
(Nasdaq: KTOS), a technology company in Defense, National Security
and Global Markets, today announced that GE
Aerospace (NYSE:GE) and Kratos Turbine Technologies, a
division of Kratos Defense & Security Solutions,
Inc., signed a Memorandum of Understanding to partner on
the development and production of small affordable
engines that could potentially power unmanned aerial
systems (UAS), collaborative combat aircraft, and similar
applications.
The agreement, once
finalized, will replace an existing joint
development agreement
and includes full-scale engine production. For
the last year, GE Aerospace and Kratos have been working
together on a small affordable engine. The
engine initially was developed and ground
tested by Kratos. Under the existing joint
agreement, GE Aerospace and Kratos completed
additional development efforts and are
now conducting tests on the engine. The team plans
to continue development on the current engine, which will undergo
altitude testing next year at GE Aerospace’s test cell
in Evendale, Ohio.
Amy Gowder, President and CEO, Defense &
Systems at GE Aerospace said, “Our defense customers have a
growing interest in small affordable engines to meet their evolving
mission requirements. Our initial collaboration has been very
successful, and this agreement furthers our efforts in this new
dynamic military segment.”
Eric DeMarco, President & CEO of Kratos
Defense & Security Solutions, Inc., said, “Kratos has made
significant investments in the development of our family of small,
low-cost jet engines for jet powered drones, missiles, and powered
munitions that lead in technology and capability. We consider our
relationship with GE Aerospace as invaluable based on our
expectation and forecast for the potential future production of
thousands of turbofan engines for multiple customers.”
Each company brings unique expertise to the
partnership. Kratos has more than 20 years of
experience in the development and production of small affordable
jet engines for UAS, drones, and missiles. GE Aerospace has more
than 100 years of experience in the development and scaling up
of high-volume production for jet engine programs for a seamless
transition from development to production.
About GE Aerospace
GE Aerospace (NYSE: GE) is a global aerospace propulsion, services,
and systems leader with an installed base of approximately 44,000
commercial and 26,000 military aircraft engines. With a global team
of 52,000 employees building on more than a century of innovation
and learning, GE Aerospace is committed to inventing the future of
flight, lifting people up, and bringing them home safely. Learn
more about how GE Aerospace and its partners are defining flight
for today, tomorrow and the future at www.geaerospace.com.
About Kratos Defense & Security
Solutions
Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS) is a
technology, products, system and software company addressing the
defense, national security, and commercial markets. Kratos makes
true internally funded research, development, capital and other
investments, to rapidly develop, produce and field solutions that
address our customers’ mission critical needs and requirements. At
Kratos, affordability is a technology, and we seek to utilize
proven, leading edge approaches and technology, not unproven
bleeding edge approaches or technology, with Kratos’ approach
designed to reduce cost, schedule and risk, enabling us to be first
to market with cost effective solutions. We believe that Kratos is
known as an innovative disruptive change agent in the industry, a
company that is an expert in designing products and systems up
front for successful rapid, large quantity, low cost future
manufacturing which is a value add competitive differentiator for
our large traditional prime system integrator partners and also to
our government and commercial customers. Kratos intends to pursue
program and contract opportunities as the prime or lead contractor
when we believe that our probability of win (PWin) is high and any
investment required by Kratos is within our capital resource
comfort level. We intend to partner and team with a large,
traditional system integrator when our assessment of PWin is
greater or required investment is beyond Kratos’ comfort level.
Kratos’ primary business areas include virtualized ground systems
for satellites and space vehicles including software for command
& control (C2) and telemetry, tracking and control (TT&C),
jet powered unmanned aerial drone systems, hypersonic vehicles and
rocket systems, propulsion systems for drones, missiles, loitering
munitions, supersonic systems, space craft and launch systems,
C5ISR and microwave electronic products for missile, radar, missile
defense, space, satellite, counter UAS, directed energy,
communication and other systems, and virtual & augmented
reality training systems for the warfighter. For more information,
visit 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
31, 2023, and in subsequent reports on Forms 10-Q and 8-K and other
filings made with the SEC by Kratos.
Press Contact:
Claire Burghoff
+1 (314) 210-1287
claire.burghoff@kratosdefense.com
Deb Case
+1.513.4181644
deborah.case@ge.com
Investor Information:
877-934-4687
investor@kratosdefense.com
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