Aerojet Rocketdyne Selected to Power Navy’s CRAW Torpedo
Rhea-AI Summary
Aerojet Rocketdyne has been selected to provide propulsion systems for the Navy's new Compact Rapid Attack Weapon (CRAW), collaborating with Raytheon Missiles & Defense. This torpedo will utilize an innovative Stored Chemical Energy Propulsion System (SCEPS), enhancing its performance. The company will manufacture key components at its Coleman Aerospace subsidiary. Additionally, Aerojet is contracted to develop SCEPS for the MK 54 MOD 2 torpedo. The CRAW will function offensively against submarines and defensively against incoming torpedoes.
Positive
- Awarded contract for CRAW propulsion systems, enhancing military capabilities.
- Leveraging over 60 years of naval expertise in propulsion technology.
- SCEPS technology significantly improves torpedo performance.
Negative
- None.
News Market Reaction – AJRD
In the trading session that priced this news, AJRD gained 1.00%, reflecting a mild positive market reaction.
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HUNTSVILLE, Ala., Oct. 24, 2022 (GLOBE NEWSWIRE) -- Aerojet Rocketdyne will power the Navy’s new Compact Rapid Attack Weapon (CRAW) as part of the Raytheon Missiles & Defense team building the next generation torpedo. Aerojet Rocketdyne will provide the afterbody, propulsion system and tail for the new torpedo.
“In all domains – from deep sea to deep space – Aerojet Rocketdyne is committed to being a trusted partner to provide reliable, innovative propulsion technology to protect our service members and enable national defense,” said Eileen P. Drake, Aerojet Rocketdyne CEO and president.
Aerojet Rocketdyne will leverage its more than 60 years of naval expertise to deliver next generation propulsion for the CRAW torpedo. The new torpedo will use an innovative Stored Chemical Energy Propulsion System (SCEPS) which will significantly improve its capabilities.
In February, Aerojet Rocketdyne announced it successfully built a self-funded SCEPS lithium boiler. In addition to its use on CRAW, the Navy is using its Other Transaction Authority to contract with Aerojet Rocketdyne to develop SCEPS for the Navy’s larger MK 54 MOD 2 torpedo.
The company will produce the afterbody, propulsion system and tail for the new CRAW torpedo at its Coleman Aerospace subsidiary, Aerojet Rocketdyne’s Center of Excellence for undersea propulsion.
According to the Navy, CRAW will be used offensively against enemy submarines and can serve as a defensive weapon to eliminate incoming torpedoes.
About Aerojet Rocketdyne: Aerojet Rocketdyne, a subsidiary of Aerojet Rocketdyne Holdings, Inc. (NYSE:AJRD), is a world-recognized aerospace and defense leader that provides propulsion systems and energetics to the space, missile defense and strategic systems, and tactical systems areas, in support of domestic and international customers. For more information, visit www.Rocket.com and www.AerojetRocketdyne.com. Follow Aerojet Rocketdyne and CEO Eileen Drake on Twitter at @AerojetRdyne and @DrakeEileen.
Media Contacts:
Jessica Carlton, Aerojet Rocketdyne, 256-690-9626
jessica.carlton@rocket.com
Eileen Lainez, Aerojet Rocketdyne, 571-239-7839
eileen.lainez@rocket.com
