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SpaceX wins Air Force contract to send GPS satellite into orbit

Apr. 28, 2016 6:09 PM ETLockheed Martin Corporation (LMT) StockBA, LMTBy: Carl Surran, SA News Editor10 Comments
  • The U.S. Air Force awards an $82.7M contract to Elon Musk's SpaceX to launch a satellite in 2018 to support the Global Positioning System used by the military and consumers for navigation.
  • The head of the Space and Missile Systems Center says the Air Force will save 40% compared with what United Launch Alliance has been charging, as SpaceX's most significant military contract yet breaks the monopoly that ULA partners Lockheed Martin (NYSE:LMT) and Boeing (NYSE:BA) have held on military space launches for more than a decade.
  • ULA did not bid for the GPS 3 launch contract, but says it intends to compete for future military launches.
  • Now read ULA shied away from price war with SpaceX?

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