Lockheed Martin Acquires Rocket Engine and Missile Manufacturer Aerojet Rocketdyne for $4.4B
WASHINGTON — Lockheed Martin announced Dec. 20 it inked a deal to acquire rocket and missile propulsion manufacturer Aerojet Rocketdyne for $4.4 billion.
James Taiclet, Lockheed Martin’s president and CEO, said the acquisition gives the company a larger footprint in space and hypersonic technology.
He said Aerojet Rocketdyne’s propulsion systems already are key components of Lockheed Martin’s supply chain across several business areas.
“The proposed acquisition adds substantial expertise in propulsion to Lockheed Martin’s portfolio,” the company said in a news release.
Aerojet Rocketdyne’s 2019 revenues were approximately $2 billion. The company, headquartered in El Segundo, California, has nearly 5,000 employees. Aerojet Rocketdyne was formed in 2013 when GenCorp’s Aerojet and Pratt & Whitney Rocketdyne were merged.
