Orbital Sciences Corp., which makes small rockets and space systems, said Tuesday it has been awarded a U.S. Defense Department contract worth up to $100 million for suborbital launch vehicle research and engineering.
The basic term of the contract is five years, with an option for an additional five years. For the full ten-year period, the total value of the contract would be up to $100 million.
Orbital said its activities under the contract will be managed by White Sands Missile Range in New Mexico.
Orbital said its launch systems are primarily used to test defensive weapons systems or to carry out scientific research projects.
Orbital shares fell 31 cents to $26.69 in afternoon trading.
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