Kratos Receives Initial Production Order for Affordable, High Performance Jet Engines for Aerial System Application
11/26/2021 | 08:01am EST
SAN DIEGO, Nov. 26, 2021 (GLOBE NEWSWIRE) -- Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS), a leading National Security Solutions provider, announced today that it has recently received an initial production order for a new, affordable, high performance jet engine for an aerial vehicle application from a national security related customer. Kratos is currently under contract from several government and other national security related customers for the development of next generation, affordable, high performance turbojet, turbofan, and other engine types for unmanned aerial system (UAS) aircraft, cruise missiles, powered munitions, and other related leading technology systems. Work under this new, initial production order will be performed at a secure Kratos manufacturing facility. Due to competitive, customer related, security related, and other reasons, no additional information will be provided related to this recent contract award.
Steve Fendley, President of Kratos Unmanned Systems Division (KUSD), said, “All of Kratos is incredibly honored to have the confidence of our customer and to have received this initial production award for our affordable, next generation, high performance engines for the new, leading technology aerial system. At Kratos, affordability is a technology, and we are taking our customers’ leadership statements, including to ‘accelerate, change, or lose′ to heart, across our entire portfolio, including our tactical drone aircraft like Valkyrie and Gremlins (Kratos-built AV provided to Prime: Dynetics), and with our next generation engine portfolio.”
Eric DeMarco, President and CEO of Kratos, said, “Kratos’ mission is focused on disrupting the national security industry and marketplace by rapidly developing, demonstrating and fielding affordable, leading technology systems that are relevant for today’s peer threat environment. Over the past several years, Kratos has listened keenly to our customer set, and we have internally invested significant funds to develop and demonstrate a number of products and systems, including in the high-performance jet drone, satellite communication and jet engine areas for which today’s contract announcement is related.”
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, please 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 27, 2020, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by Kratos.