Lockheed Books $107M Deal for Next Space Fence Phase

Lockheed Martin (NYSE: LMT) signed an Air Force contract worth $107 million for further work on the Space Fence project.

Space Fence is designed to increase situational awareness and safety for manned and unmanned space operations.

Under the deal Lockheed Martin will further develop and prototype its ground-based radar system design in preparation for a final Space Fence production contract next year.

“The proliferation of orbital objects, including rocket debris and satellites, threatens our daily use of space-based technology and its valuable services, such as electronic navigation, satellite broadcasting and medical research, ” said John Morse, Lockheed Martin Space Fence program director.  “Our Space Fence design will provide the Air Force with more time to react to events potentially impacting our space assets and missions – such as collisions with space debris – before they happen.”

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