Lockheed Martin Corporation (NYSE:LMT) announced that as part of its new test site in New Jersey, it will be monitoring objects in space by a radar array. The monitoring will be for the US Air Force space fence. This will also help to prevent sever space collisions.
With the help of this facility, the company will help improve the situational awareness of space and the monitoring of orbital debris. The facility will also be used to detect orbital objects to prevent any possible space collisions.
It was in September last year, when the US government officials approved the design and infrastructure for the space fence system. The design included the digital radar and the turnkey facility.
Lockheed’s Financial Performance
Lockheed Martin reported its fourth quarter fiscal 2015 (4QFY15), net sales of $12.9 billion increasing from $12.4 billion in 4QFY14. It reported net earnings of $933 million compared to $904 million in 4QFY14.
In the fourth quarter, the company also closed the acquisition of Sikorsky Aircraft Corporation. The company stated that most of the 2016 will be consumed in the operations of Sikorsky. It was also able to achieve a backlog of $99.6 billion, out of which $15.6 came from Sikorsky.