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Lockheed beats out Raytheon for $915M award to track space junk

  • Lockheed Martin (LMT) is awarded a $915M contract by the U.S. Air Force to build a radar system to track space junk, beating out Raytheon (RTN) after years of competing for the work.
  • The ground-based radar project, known as a space fence, would detect much smaller debris than is now possible under an Air Force system installed in 1961.
  • LMT +0.4% AH.
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