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Transformational Satellite Program Would Die In Fiscal 2010 Gates Plan; $26 Billion At Stake For TSAT

DDN

Monday, April 6th, 2009

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The $26 billion Transformational Satellite, or TSAT, program would die under a new budget plan that Secretary of Defense Robert Gates today unveiled in a news briefing. The Boeing Co. [BA] and Lockheed Martin Corp. [LMT] were competing for the future contract, with each company boasting a roster of major subcontractors on its team. "We will terminate the $26 billion Transformational Satellite program, and instead will purchase two more Advanced Extremely High Frequency satellites as alternatives," Gates said. TSAT was…

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