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Cost of Missile Detectors Rises 77%

November 15, 2001|Bloomberg News

The cost of Lockheed Martin Corp.'s new U.S. missile warning satellites has grown by as much as 77% and the program is three years behind schedule, according to Air Force documents.

Lockheed's $2.6-billion development contract has grown by $1.7 billion, and the system's deployment will be delayed as much as three years to 2009, according to Air Force briefing charts prepared for Pentagon officials and Congress.

The constellation of six satellites is designed to detect the launch of an enemy missile. It's part of the missile defense President Bush wants to put in place as quickly as possible. Full-scale development started in late 1996.

The briefing charts did not disclose why program costs have grown; about 60% of the work is complete.

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