June 2, 2009 (FinancialWire) — The U.S. Air Force has awarded Lockheed Martin (NYSE: LMT s) a fixed-price contract for nearly $25 million to develop a prototype for the next-generation 3-dimensional expeditionary long-range radar.

Lockheed Martin was one of two industry teams placed under contract for the technical development of the new land-based radar.

The Air Force plans to replace its entire TPS-75 long-range radar inventory with the 3DELRR, which will detect, identify, track and report aircraft and missiles. Following a 20-month technical development phase, the Air Force has said it intends to competitively award one contract for system development in the 2011 timeframe.

Lockheed Martin built the first next-generation long-range radar, the AN/TPS-59. There are more than 170 of the company’s radars operating throughout the world. The radars are used in areas such as battle theaters and very remote locations.

Bethesda, Maryland-based Lockheed Martin is a global security company that employs about 146,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The corporation reported 2008 sales of $42.7 billion.

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