ETFOptimize | High-performance ETF-based Investment Strategies

Quantitative strategies, Wall Street-caliber research, and insightful market analysis since 1998.


ETFOptimize | HOME
Close Window

Aerojet Rocketdyne Selected to Power Navy’s CRAW Torpedo

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


Primary Logo

Stock Quote API & Stock News API supplied by www.cloudquote.io
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms Of Service.


 

IntelligentValue Home
Close Window

DISCLAIMER

All content herein is issued solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy, nor should it be interpreted as a recommendation to buy, hold or sell (short or otherwise) any security.  All opinions, analyses, and information included herein are based on sources believed to be reliable, but no representation or warranty of any kind, expressed or implied, is made including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. We undertake no obligation to update such opinions, analysis or information. You should independently verify all information contained on this website. Some information is based on analysis of past performance or hypothetical performance results, which have inherent limitations. We make no representation that any particular equity or strategy will or is likely to achieve profits or losses similar to those shown. Shareholders, employees, writers, contractors, and affiliates associated with ETFOptimize.com may have ownership positions in the securities that are mentioned. If you are not sure if ETFs, algorithmic investing, or a particular investment is right for you, you are urged to consult with a Registered Investment Advisor (RIA). Neither this website nor anyone associated with producing its content are Registered Investment Advisors, and no attempt is made herein to substitute for personalized, professional investment advice. Neither ETFOptimize.com, Global Alpha Investments, Inc., nor its employees, service providers, associates, or affiliates are responsible for any investment losses you may incur as a result of using the information provided herein. Remember that past investment returns may not be indicative of future returns.

Copyright © 1998-2017 ETFOptimize.com, a publication of Optimized Investments, Inc. All rights reserved.