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U.S. Air Force awards contracts to Raytheon, Lockheed for next-generation cruise missile
August 23, 2017 / 9:25 PM / a month ago

U.S. Air Force awards contracts to Raytheon, Lockheed for next-generation cruise missile

Aug 23 (Reuters) - The U.S. Air Force has awarded Lockheed Martin Corp and Raytheon Co separate $900 million contracts to continue work on a replacement for the AGM-86B air-launched cruise missile, the Pentagon said on Wednesday.

Although the award for the new Long Range Standoff weapon (LRSO) comes amid rising tensions with North Korea, the Air Force had asked the defense industry last summer for proposals to replace the aging ICBM system and its nuclear cruise missiles as the military moved ahead with a costly modernization of its aging atomic weapons systems. (Reporting by Mike Stone and Eric Walsh; Editing by Peter Cooney)

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