YEREVAN, APRIL 20, ARMENPRESS. Lockheed Martin Space will develop the US Air Force’s first hypersonic cruise missile under a new contract awarded on 18 April, Flight Global reports.

The indefinite-delivery and indefinite quantity award is worth up to $928 million.

The award came out of a competitive acquisition process in which three offers where received.

Although USAF did not name the other bidders, it was earlier announced in 2017 Boeing, Lockheed Martin, Northrop Grumman and Raytheon Missile Systems as the only acceptable bidders due to timeframe constraints.

Lockheed Martin is an American global aerospace, defense, security and advanced technologies company with worldwide interests. It was formed by the merger of Lockheed Corporation with Martin Marietta in March 1995. It is headquartered in Bethesda, Maryland, in the Washington, DC, area. Lockheed Martin employs approximately 100,000 people worldwide.

Lockheed Martin is one of the largest companies in the aerospace, defense, security, and technologies industry. It is the world's largest defense contractor based on revenue for fiscal year 2014.In 2013, 78% of Lockheed Martin's revenues came from military sales; it topped the list of US federal government contractors and received nearly 10% of the funds paid out by the Pentagon.

English –translator/editor: Stepan Kocharyan