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Raytheon gets space fence contract
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TEWKSBURY, Mass. - Raytheon Co. said Wednesday it received one of three $30 million contracts for Phase A system design and prototype of a planned space fence system.
The defense contractor said the space fence will boost the Air Force's ability to detect and report objects in space.
The space fence program is a multiphase acquisition leading to the delivery of up to three globally positioned radar units capable of working with the country's space surveillance network.
Delivery of the first radar system is expected in 2015.
Raytheon shares rose 19 cents to $44.42 in midday trading.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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