Jim Taiclet, CEO of Lockheed Martin (NYSE: LMT), said the defense and aerospace contractor is in “late-stage negotiations” with a solid-rocket motor company to create a new supplier of solid rocket motor propulsion systems, DefenseNews reported Thursday.
Speaking before the House Armed Services Cyber, Information Technologies and Innovation subcommittee, Taiclet shared that the potential partnership is aimed at diversifying the rocket propulsion market.
The two-time Wash100 awardee cited Anduril Industries’ June acquisition of Adranos, manufacturer of solid rocket motors and developer of solid rocket fuel ALITEC, as an example of expanding the sector.
Anduril Co-founder and CEO Brian Schimpf, who also testified at the hearing on defense innovation, said the acquisition seeks to address “a major gap in our ability to produce and scale weapons that we critically need.”
Lockheed has yet to provide further details on the potential, including the identity of the undisclosed rocket propulsion supplier.