BREAKING NEWS

Boeing wins $3.48 billion US missile defense contract

By REUTERS

DECEMBER 31, 2011 04:58

Boeing Co beat out Lockheed Martin to retain its position as the prime contractor for the US long-range missile shield, the Pentagon said on Friday.

The US Defense Department said it was awarding Boeing a $3.48 billion, seven-year contract to develop, test, engineer and manufacture missile defense systems.

A team led by Lockheed Martin Corp and Raytheon Co had vied with Boeing to expand and maintain the Ground-based Midcourse Defense, or GMD, hub of layered antimissile protection.

Boeing partnered with Northrop Grumman Corp to retain the work.

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