Lockheed Gets Air Force Pact

The contract is valued at $2 billion.
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Lockheed Martin

(LMT) - Get Report

received a $2 billion contract to lead the development of an advanced Air Force network that will provide high-bandwidth, secure, global communications.

The 10-year contract will link the Transformational Satellite Communications Systems program to the Global Information Grid and is expected to begin operations in 2014, Lockheed said in a press release Friday.

The TSAT is designed to provide mobile forces with a high-bandwidth connection to the GIG from virtually anywhere in the world, while protecting its users from enemy detection, eavesdropping and jamming. Lockheed said the TSAT's high-capacity links will dramatically increase the military's capability to support its deployed forces with real-time intelligence, surveillance and reconnaissance.

Lockheed, based in Bethesda, Md., separately said that its Australian unit and

Computer Sciences'

(CSC)

Australian operation have agreed to implement the Aegis open architecture system for Australia's Air Warfare Destroyer Program.

Shares of Lockheed were up 83 cents, or 1.3%, to $67.01 in premarket trading Monday.