Demand a Competitive Marketplace in Hypersonic Missile Technologies
Following the confirmation hearings of Frank Kendall III in the Senate Armed Services Committee today, where the Biden nominee spoke about the importance of hypersonic missile technology, CDA President Hank Naughton released the statement below:
“With China and Russia making advancements in hypersonic missile technology, it is imperative that there remains competition among defense contractors for American hypersonic capabilities. If we allow additional consolidation in the missile sector, we risk losing our advantage by eliminating innovation and cost controls.”
The proposed acquisition of Aerojet Rocketdyne by Lockheed Martin would limit competition in the hypersonics space and reduce innovation in a critical missile defense category.
CDA believes that our leadership in Washington has a responsibility to ensure that potential acquisitions, especially those impacting the National Security sector, do not defy antitrust efforts. The current proposed acquisition of Aerojet Rocketdyne by Lockheed Martin is the first test of the Biden administration’s ability to handle antitrust issues, particularly consolidation in the defense space, and a great opportunity to draw a line in the sand that corporate acquisitions which reduce competition, stifle innovation and burden the American taxpayer, must not be tolerated.