That left Boom scouting for new partners to help shoulder heavy investments needed to launch a new jet and engine. The firm has raised $319 million as of October 2021 and was valued at $1.2 billion, according to PitchBook Data.
Scholl said Boom decided to take the lead on developing its own engines after looking at "limitations" of adapting a subsonic engine and the "traditional engine business model."Under the new deal, Kratos unit Florida Turbine Technologies will design the engine and build some of the first units. Civil engine makers invest billions of dollars, which they recoup over the lifetime of engines through aftermarket sales.
China remains in the early stages of challenging Western engine manufacturers with its own alternative engine portfolio.