(Reuters) - Rocket engine maker Aerojet Rocketdyne says it will develop a propulsion system for the Long Range Maneuverable Fires (LRMF) missile that Lockheed Martin (NYSE:LMT) is making for the U.S. Army.
There is a rising demand for missiles fueled by the Ukraine conflict and geopolitical uncertainties, as countries seek to bolster their defenses.
LRMF missiles could be launched from existing U.S. Army launchers to engage targets from a longer range, serving as a powerful deterrent.
The announcement comes a day after Reuters reported Lockheed had raised concerns with the U.S. Defense Department and the Federal Trade Commission (FTC) about L3Harris' acquisition of Aerojet.
Last year, Lockheed offered to buy Aerojet in a $4.4 billion deal but walked away from the acquisition after the FTC sued to block the deal, citing concerns Lockheed could hinder competitors' fair access to Aerojet products.