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DoD Awards Two Space Fence Design Contracts

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Raytheon [RTN] and Lockheed Martin [LMT] have each received a $107 million contract for preliminary design of a next- generation tracking radar that will monitor objects in space. Under the terms of the Air Force deal, the companies are expected to complete preliminary design, performance analysis and prototype evaluation of a new Space Fence by next summer. All phases of the program are expected to cost up to $3.5 billion, according to budget documents, so a follow-on production contract could…

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