Palladyne AI Corp. (NASDAQ:PDYN) subsidiary, GuideTech ("Palladyne AI") has been awarded a contract by the U.S. Navy to develop an air-launched, near hypersonic long-range, low cost missile ("Air-Launched Rapid Response Missile" or "ALRRM").

The ALRRM is expected to deliver nearly hypersonic speed and long range at a fraction of the cost of other air-breathing hypersonic weapons, meeting the Department of War's recent call for affordability without compromising capability. The ALRRM is designed to exceed 350 nautical mile flight distance at high altitude, with a sustained cruise speed of beyond the required Mach 4.0, and designed to deliver a 150 lb warhead using an air-breathing solid fuel ramjet ("SFRJ"). It is also designed to meet the designated size and weight requirements.