financetom
Business
financetom
/
Business
/
Avio's US rocket motor plant to supply Raytheon and Lockheed Martin
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Avio's US rocket motor plant to supply Raytheon and Lockheed Martin
Nov 10, 2025 8:38 AM

ROME (Reuters) -Raytheon and Lockheed Martin ( LMT ) will be the major customers of Avio's planned solid rocket motor plant in the United States, the Italian rocket maker said on Monday.

Raytheon, which is the defence arm of aerospace giant RTX, and Lockheed Martin ( LMT ) will have preferred access to a share of production at the plant, Avio said in separate statements on the two agreements.

Avio has not announced where the plant will be built but has said it will be operational by early 2028.

"This agreement will help establish an additional supplier of solid rocket motors within the U.S.," said Bob Butz, Vice President of Operations, Supply Chain and Quality at Raytheon.

Avio will direct 80% of an ongoing 400 million euro ($466.48 million) capital increase for development of the site, its CEO told Reuters in October.

"The establishment of Avio's SRM facility will allow us to bring our proven solid propulsion expertise to the United States, contributing to the innovation and development of a critical industrial supply chain," Jim Syring, CEO of Avio USA, said.

The solid rocket motor (SRM) market is growing due to rising military spending globally, particularly for missiles and tactical weapon systems, as countries aim to upgrade their defence capabilities with advanced missile technologies.

The President of Lockheed Martin Missiles and Fire Control Tim Cahill said the collaboration with Avio would allow the group to commit to a "diverse, resilient supply chain for solid rocket motors".

Avio CEO Giulio Ranzo told Reuters that the two deals were "fundamental, and give great solidity" to Avio's U.S. plan.

They come right after Italian state-controlled defence group Leonardo cut its share in Avio to a little more than 19% and said last week that it was not interested in investing further in the group because it is already part of European missile maker MBDA.

($1 = 0.8575 euros)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
More lawyers join the $3,000-an-hour club, as other firms close in
More lawyers join the $3,000-an-hour club, as other firms close in
Feb 27, 2025
* Plus: Tesla pays plaintiffs' lawyers $176 million in Musk case * More Trump nominees disclose law firm pay (Updates headline, adds new details in paragraphs 2 and 3) By David Thomas and Mike Scarcella Feb 27 (Reuters) - (Billable Hours is Reuters' weekly report on lawyers and money. Please send tips or suggestions to [email protected]) Some top partners at...
Mosaic misses fourth-quarter profit estimates on lower sales, prices
Mosaic misses fourth-quarter profit estimates on lower sales, prices
Feb 27, 2025
Feb 27 (Reuters) - Fertilizer producer Mosaic missed Wall Street expectations for fourth-quarter profit on Thursday, hurt by lower potash prices and sales. Crop prices, including those of soybean, wheat and corn, have been falling over recent quarters due to oversupply and weakening demand, forcing farmers to curtail spending, impacting firms such as Mosaic. The company's quarterly net sales volume...
Exclusive-Aerospace industry scrambles to deal with fallout from huge US factory fire
Exclusive-Aerospace industry scrambles to deal with fallout from huge US factory fire
Feb 27, 2025
(Reuters) - Boeing and other top aerospace firms are scouring their supply chains to determine their exposure to a major fire last week at a Philadelphia-area parts factory that has set off alarm bells across the industry, people familiar with the matter said. The days-long fire at SPS Technologies' century-old factory could put pressure on the industry's already strapped supply...
Factbox-How hard have US agencies been hit by Trump and Musk's layoffs?
Factbox-How hard have US agencies been hit by Trump and Musk's layoffs?
Feb 27, 2025
(Reuters) -U.S. President Donald Trump and billionaire Elon Musk are undertaking a sweeping campaign to slash the size of the 2.3 million-strong civilian federal workforce, firing or offering buyouts so far to some 100,000 employees in an unprecedented and chaotic effort that shows no sign of slowing. The layoffs to date have primarily been aimed at workers who have been...
Copyright 2023-2026 - www.financetom.com All Rights Reserved