Lockheed Martin receives $30M Air Force contract

By Associated Press
June 30, 2009 | Comments (0)

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Defense contractor Lockheed Martin Corp. has received a $30 million Air Force contract to begin development of radars and operations centers, the company said Tuesday.

The Bethesda, Md., company is beginning concept development for Space Fence, a system of land-based radars and supporting operations centers that will detect and report on objects and debris orbiting Earth.

Lockheed Martin was one of three contract recipients.

A team led by Lockheed Martin will design prototypes and draw up trade studies and analysis of potential system configurations and a system design review and final prototyping.

The team includes General Dynamics Corp., AT&T Inc. and AMEC, an engineering and project management company.

Shares of Lockheed Martin fell 96 cents, or 1.2 percent, to $81.08 in morning trading.

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