Covenant Wins $150 Million in Cruise Missile Orders as U.S. Stockpiles Run Short
Updated
Updated · The Washington Post · Sep 9
Covenant Wins $150 Million in Cruise Missile Orders as U.S. Stockpiles Run Short
3 articles · Updated · The Washington Post · Sep 9
Summary
$150 million in orders will let Covenant begin delivering its low-cost, long-range cruise missiles in 2027, the Peter Thiel-backed startup said Wednesday.
The pitch is mass-produced cruise missiles at lower cost as the U.S. faces a weapons stockpile shortage tied to its conflict in Iran.
Covenant had already opened a 105,000-square-foot Dallas factory and said earlier Wednesday it aims to produce 1,000 missiles in the first quarter of 2027, scaling to 5,000 annually.
The company emerged from stealth with more than $250 million in funding and Department of Defense deals, underscoring investor and Pentagon interest in cheaper, high-volume strike weapons.