US Navy Invests $70m in New Cruise Missile
1 source · first reported 1h ago
The US Navy has awarded a $70 million contract to CoAspire, a new missile maker, to develop a low-cost cruise missile. This is the first move in the Navy's precision-strike acquisition efforts. The contract was awarded by PAE Munitions, the Navy's precision-strike acquisition arm.
Why it matters
This investment signifies the Navy's focus on developing affordable and advanced missile technologies, which is crucial for maintaining its precision-strike capabilities. The partnership with a new manufacturer also highlights the Navy's efforts to innovate and expand its supplier base.
Independent Media 1
Single-source: Independent Media
Development timeline
How this story unfolded across sources, oldest first.