Kratos Bags $20M Unmanned Aerial Drone System Production Contract

August 8, 2022 1:53 PM | 1 min read | Make a Comment

Kratos Defense & Security Solutions, Inc. KTOS has received an ~$20 million production contract for high-performance, jet-powered, unmanned aerial target drone systems.
The drone systems produced under this contract will be manufactured in a Kratos production facility.
Kratos did not disclose additional information citing competitive, security-related, and other considerations.
Steve Fendley, President of Kratos Unmanned Systems Division, commented, "Kratos today has multiple active production lines producing approximately 150 target and tactical jet drone aircraft annually, and this new target drone production contract award is a key element of our future expected growth trajectory."
Price Action: KTOS shares are trading higher by 1.14% at $15.06 on the last check Monday.

Posted In: News Contracts Small Cap Briefs

Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.