Report: Air Force, Lockheed Discussing $3B Satellite Deal

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The Air Force is looking to strike a $3 billion purchase agreement with Lockheed Martin Corp. (NYSE: LMT) for two communications satellites, Air Force Times reports.

The Air Force is reportedly talking over a potential $3 billion deal for the communications satellites.

The advanced extremely high frequency satellites enable the transfer of communications data at up to 10 times faster than the current Milstar constellation, according to Air Force Times.

Congress set a $3.1 billion limit on the Air Force for spending on the satellites when it passed the Defense Authorization Act for fiscal year 2012.

The Air Force is looking to award a contract by late September, according to the report.

If agreed upon, these satellites would be the fifth and sixth of the AEHF program.

One AEHF satellite is currently in orbit and Canada, the Netherlands and the U.K. are partners in the program.

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