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Raytheon, Lockheed Martin Complete Space Fence PDR Contract

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Both Raytheon [RTN] and Lockheed Martin [LMT] completed their preliminary design review (PDR) contracts for the Air Force’s Space Fence program. Lockheed Martin spokesman Chip Eschenfelder said Friday was the Air Force’s contract end date, which began in January 2010 with a pair of $107 million contracts. Raytheon announced its PDR contract completion Friday in a statement. Lockheed Martin said in March it had a working prototype. Raytheon spokeswoman Michele Lemos said in an email Friday the company successfully demonstrated…

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