- The U.S. Air Force will re-evaluate proposals received in a competition for a long-range radar system initially won by Raytheon (NYSE:RTN) after losing bidders Lockheed Martin (NYSE:LMT) and Northrop Grumman (NYSE:NOC) filed protests, Reuters reports.
- It is unclear how long the re-evaluation of the bids would take, but Reuters says one source indicated it could include a more technical assessment of proposals submitted by the companies.
- RTN in October beat out LMT and NOC to develop a replacement for the Air Force's current TPS-75 radar, which has been in service since the late 1960s.