The Boeing Company (BA), Lockheed Martin Corporation (LMT), Raytheon Company (RTN): Defense Contractors See Profits Down Under

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Lockheed Martin Corporation (NYSE:LMT) and Raytheon Company (NYSE:RTN): Lockheed Martin Corporation (NYSE:LMT) may not be totally out of luck, however. Another big-budget project in the works Down Under is a planned C-band space radar installation at the Harold E. Holt naval communication facility in Western Australia. Australia plans to jointly operate the installation with the U.S., aiming to establish a virtual space “fence” that will track debris orbiting the earth, in order to avoid mid-orbit collisions with our spacecraft. In total, this project is expected to cost upwards of $6.1 billion over its lifetime. Both Lockheed Martin Corporation (NYSE:LMT) and Raytheon Company (NYSE:RTN) are bidding to help build it.

And the best part? Because the space radar installation is jointly operated by the U.S., you know Lockheed Martin Corporation (NYSE:LMT) and Raytheon Company (NYSE:RTN) have a shot at aerospace contracts drawing from a budget 20 times richer than what Australia can afford to spend.

The article Defense Contractors See Profits Down Under originally appeared on Fool.com and is written by Rich Smith.

Motley Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of General Dynamics, Lockheed Martin, and Raytheon Company.

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