Blackstone said it is investing to form a defense technology company that aims to counter threats from the rise of inexpensive drones.

The new firm, called Falcata, was formed through the combination of TSC and Applied Systems Engineering, two companies Blackstone previously acquired.

Falcata aims to help meet growing demand for cost-effective national security missions as the U.S. contends with rapid changes in national security amid the rise of inexpensive drones, missiles and other weapons that can be deployed at scale, Blackstone said.

Falcata brings together capabilities across advanced seekers and radar technologies, guidance electronics and control actuation systems, GPS-denied navigation, launchers and other technologies supporting missile defense and other national security missions.

Falcata Chairman Jonathan Moneymaker said recent conflicts have shown the importance of lower-cost interceptors in the U.S.'s national security strategy.

"Producing more interceptors requires greater capacity across critical sensing, guidance, navigation and control technologies inside them," Moneymaker said, adding that Falcata aims to deliver new technology needed by the U.S. and its allies at the scale needed.