Mentioned:
Palladyne AI has a new ambition: near hypersonic long range missiles.
What’s happening:
- The United States Navy has awarded a new contract to Palladyne AI (NASDAQ: PDYN) to develop an air launched, near hypersonic long range missile
Why it matters:
- This is the first deal Palladyne AI has ever won focused solely on the development of new near hypersonic missiles for the American military
Going deeper:
- The new contract from the United States Navy is being given to Palladyne AI’s subsidiary GuideTech who are used by many large defense contractors in America for software design and engineering
- Palladyne AI has publicly stated that the new air launched, near hypersonic missiles are being purpose built to be low cost to manufacture and capable of exceeding 350 nautical mile flights at high altitudes
