The U.S. Navy has awarded Lockheed Martin Corp a contract worth up to $2 billion related to hypersonic weapon systems, the defense firm said on Friday, amid a global uptick in demand for arms and ammunitions.
Under the contract, Lockheed will integrate the Conventional Prompt Strike (CPS) weapon system on to the navy’s ZUMWALT-class destroyer stealth ships.
The defense contractor will also provide launcher systems, weapon control, integrated missile components, and platform integration support for the naval platform.
The contract comes as the United States and its global rivals have been developing several hypersonic weapons, which travel in the upper atmosphere at more than five times the speed of sound.
Source : Reuters
The brokerage raised its benchmark index target to 2,000 from 1,850, implying a nearly 12%…
Strong demand enabled Bahrain to tighten pricing by 37.5 basis points from IPTs. Bahrain has…
Dollar, oil gain on fading hopes of US-Iran peace deal. Gold fell on Wednesday, weighed…
In 1990, facing a public health crisis, Mexico City initiated its first multiyear air quality…
Water is a key pillar of life and livelihoods — but it is massively underfinanced.…
The conventional account of US space sector transformation credits the post-2005 entry of SpaceX, Blue…