Palmer Luckey's start-up Anduril just proved it can challenge legacy defense contractors and win [Business Insider]
Lockheed Martin Corporation (LMT)
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Source: Business Insider
"Impossible to overstate the importance of this win," tweeted founder Palmer Luckey. Anduril Industries, the defense tech startup run by Palmer Luckey , has just been awarded a major contract by the US Air Force, beating out legacy names like Boeing and Lockheed Martin. Anduril, founded in 2017, has been contracted to design and test autonomous fighter jets as part of the Collaborative Combat Aircraft (CCA) program, a core part of the Air Force's efforts to modernize its fleet. The Air Force hopes to eventually buy at least 1,000 CAA systems at a cost of $30 million per drone. In the latest fiscal 2025 budget request it requested $557 million for the program and has said it plans to spend almost $9 billion on the initiative by 2029. The joint contract will be split between Anduril and General Atomics. The companies will now work on designing, manufacturing, and testing the unmanned aircraft and drones. The decision proves just how important autonomy and AI are to the future
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LMT
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- 4/23/24 - Beat
LMT
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- 5/3/24 - Form 8-K
- 4/29/24 - Form 4
- 4/23/24 - Form 10-Q
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