This paper studies the use of metalized fuel-rich solid propellant for ramjet applications. Metals such as aluminum and boron are known to have higher energetics compared to hydrocarbon fuels such as kerosene. Also, along with higher energetics there is an advantage higher density as well with metals which results in higher density specific impulse. Various aluminum based compositions have been prepared in this study with an aim to reduce the residue or the unburned propellant. Residue levels have been brought down to 8-10 % from 20-25 % from an earlier work. Non-dimensional thrust and drag analysis has been carried out to make a genuine comparison of the presented fuel with kerosene and boron based fuel-rich propellants. © 2016, American Institute of Aeronautics and Astronautics Inc, AIAA. All rights reserved.