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James Dieklet, President and CEO of Lockheed Martin, said the acquisition would give the company a major foothold in aerospace and hypersonic technology.
WASHINGTON – Lockheed Martin, the largest defense contractor in the United States, announced on December 20 that it had signed a $ 4.4 billion deal to buy a rocket engine and missile manufacturer Aerojet Rocket.
James Dieklet, President and CEO of Lockheed Martin, said the acquisition would give the company a major foothold in aerospace and hypersonic technology.
He said the propulsion systems of the aeroget rocket were already key components of Lockheed Martin’s supply chain in many commercial areas.
“The proposed acquisition adds significant expertise in paying for Lockheed Martin’s portfolio,” the company said in a press release.
Aerojet Rocket’s 2019 revenue is about 2 billion 2 billion. Headquartered in El Secundo, California, the company has nearly 5,000 employees. The Aerojet Rocket was created in 2013 when Gencorp merged the Aerojet and Brad & Whitney rockets.
The company manufactures tactical and tactical missiles for the defense sector. Its rocket engines portfolio includes the United Launch Alliance Delta 4 and Atlas 5 missile vehicles (Lockheed Martin owns 50 percent of the United Launch Alliance) and the RL-10 engines that power NASA’s RS-25 engines for space launch.
Aerojet Rocket operates to qualify for the new version of the RL10C-X, which incorporates key components built using 3-D printing technology.
With Pentagon funding, the company developed a new rocket engine, the AR-1, which was set to compete with the main engine of ULA’s new Vulcan launch vehicle, but ULA chose Blue Origin’s PE-4.
The acquisition is expected to be completed in the second half of 2021. It is subject to regulatory approvals and has not yet been approved by Aerojet Rocket’s partners.
Lockheed Martin said an interim committee would be formed to facilitate integration and ensure continuity for customers and staff.
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