Lockheed, Raytheon Both Win $900 Million Contracts to Design New Nuclear Missiles

Lockheed Martin Corp. and Raytheon Co. were picked by the U.S. Air Force to begin development of a new nuclear cruise missile for long-range bombers, while Boeing Co. was shut out of the effort to replace its aging weapon that's in use today.The initial contracts of about $900 million each are for a 54-month phase to refine designs and prove out technologies for the Long-Range Standoff missile, said Captain Emily Grabowski, an Air Force spokeswoman, in a statement Wednesday.  Continue reading...