Pentagon taps Anduril, two others to build low-cost cruise missiles
XLI•Anduril expands missile production plans
In May, Anduril signed a framework agreement to deliver 1,000 ground-launched variants of Barracuda-500M annually for three years.
"By establishing framework agreements... across the next several years, the Department has energized the non-traditional industrial base," Anduril said.
Program includes multiple launch variants
The agreement covers both pallet-launched missiles — generally deployed from cargo aircraft — and lug-launched missiles, which are mounted under fighter aircraft wings.
Anduril, founded in 2017, completed the first successful flight test of pallet-launched Barracuda-500M in September 2024 and expects to conduct a test for the lug-launched variant in the next several months.
The U.S. government intends to procure up to 8,000 vehicles, including both variants, each year, the company added.
Funding and related ownership developments
Earlier this year, Anduril raised $5 billion in a round led by venture capital firms Thrive Capital and Andreessen Horowitz, doubling its valuation to $61 billion.
In June, Norwegian defense and technology group Kongsberg KOG.OL completed the acquisition of Zone 5 while Virginia-based CoAspire is owned fully by its two founders and has no outside investors.
Pentagon framework deal for low-cost cruise missiles
July 15 (Reuters) - Defense company Anduril said it has signed a framework agreement with the Pentagon to deliver thousands of low-cost Barracuda-500 cruise missiles for seven years, starting in 2027.
