Lockheed Likes What it Sees in NASA Budget

Lockheed Martin (NYSE: LMT) expressed support for House and Senate NASA oversight committees as Congress moves forward on a new spending plan for NASA free of bi-partisanship.

As the legislation moves forward, there is a marked increase in the possibility for “a robust human space flight program” and the Orion crew exploration vehicle to help support such missions and continue America’s role as a space leader.

“We are very pleased to see strong bi-partisan support in Congress for the nation’s human exploration program and recognition of the significant progress that has been made in developing Orion in just four years,“ said John Karas, Lockheed Martin vice president and general manager, Human Space Flight. “We commend the cooperation between Congress and the Administration in achieving this important step to assure continued U.S. leadership in space.“

According to Lockheed, “the Orion team has completed ground testing for major subsystems and is expected to complete the critical design review next year that will finalize 90 percent of the design. A test of the Orion Launch Abort System was successfully conducted in May 2010 and the NASA and industry team completed a rigorous Phase 1 safety review in early July 2010, assuring that mission critical safety requirements have been met.”

“These important actions by Congress with the Administration will promote STEM education, and maintain the highly skilled workforce and resources vital to the nation's future as the space shuttle is retired and we transition to the next generation of space flight systems and missions to explore beyond low Earth orbit,“ said Karas.

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