Karman Space & Defense Awarded $21.3 Million Contract by Northrop Grumman for U.S. Navy MK 54 Torpedo Fleet Exercise Section

Karman Space & Defense Awarded $21.3 Million Contract by Northrop Grumman for U.S. Navy MK 54 Torpedo Fleet Exercise Section

Providing speed, agility and scale to accelerate critical defense programs from concept development through production

Karman Space & Defense (“Karman,” “Karman Holdings Inc.” or “the Company”) (NYSE: KRMN), a leader in the rapid design, development and production of critical, next-generation system solutions that align with the U.S. Department of Defense’s core mission priorities and the nation’s accelerating demand for access to space, today announced that Northrop Grumman Corporation has awarded a $21.3 million contract for the Proof of Manufacture (“POM”) phase of the U.S. Navy’s MK 54 Torpedo Fleet Exercise Section (“FES”) program.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260722222702/en/

MK 54 Torpedo Fleet Exercise Section

This contract award builds on Karman’s decades of proven performance as a critical supplier of maritime defense systems across submarine, surface ship, and autonomous naval platforms, including mission critical undersea warfare and fleet readiness applications.

The MK 54 Fleet Exercise Section (FES) is a recoverable training configuration used in U.S. Navy anti-submarine warfare exercises involving the MK 54 lightweight torpedo. It replaces the live warhead with a non-explosive exercise and recovery assembly, enabling safe deployment in training environments, collection of performance data, and recovery of the system for reuse. The FES supports fleet readiness, reduces lifecycle training costs, and enhances safety during operational training.

The MK 54 Lightweight Torpedo is deployed across multiple platforms, including submarines, aircraft, and surface ships operated by the U.S. Navy and allied partner nations.

The POM phase will validate the system’s design, manufacturing, and testing processes while supporting the transition to Low-Rate Initial Production (“LRIP”), enabling the U.S. Navy to conduct full system qualification prior to fleet fielding.

“We’re excited to move forward from the Proof of Demonstration phase to the Proof of Manufacture phase for the next generation of the U.S. Navy’s MK 54 Fleet Exercise Section,” said Jon Rambeau, chief executive officer of Karman. “The FES is an innovative solution to a complex challenge that Karman developed, tested and is now poised to produce for the Navy. Serving our nation’s military needs is core to our mission and drives our team to achieve the impossible every day.”

About Karman Space & Defense

Karman Space & Defense is a leader in the rapid design, development and production of critical, next-generation system solutions that align with the U.S. Department of Defense’s core mission priorities and the nation’s accelerating demand for access to space. Building on nearly 50 years of success, we deliver Payload Protection & Deployment Systems, Hydro/Aerodynamic Interstage Systems, and Propulsion & Launch Systems to more than 80 prime contractors supporting over 130 space and defense programs. Karman is headquartered in Huntington Beach, California, with multiple facilities across the United States. For more information, visit Karman Space & Defense.

LinkedIn
X
Instagram
YouTube

Investor inquiries:
Steven Gitlin
investors@karman-sd.com

Media inquiries:
press@karman-sd.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20260722222702/en/