I'm 100% positive it has an impact fuze. Lazer, Fork, Ely, and Rugby all fired CLOSER than 1.2-1.3k yards. They fired at 700-800 yards, and the rocket actually HIT the bomber and blew up the formation.
At least, I think it did. I suppose if an 8 inch rocket powered projectile hit a bomber it could blow it up, but the drones blow up to, leading me to believe the rocket explodes on impact.
If you shoot at 800 yards and miss, it will fly past the bombers before the time fuze blows it up. Believe me, I know. I missed at all kinds of ranges from 300 yards to 1,300 yards.