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Report: Aerospace, Defense Firms to Benefit From Rising Military Space Spending

Report: Aerospace, Defense Firms to Benefit From Rising Military Space Spending - top government contractors - best government contracting event

Report: Aerospace, Defense Firms to Benefit From Rising Military Space Spending - top government contractors - best government contracting eventSome aerospace and defense contractors have initiated efforts to build new communications satellites and hypersonic missiles to leverage the rising military spending on space projects to counter threats posed by Russia and China to U.S. space assets, The Wall Street Journal reported Friday.

Those companies also intend to capitalize on the White House's plan to establish a new “space force,“ which some industry executives say could help provide additional resources for space-related programs.

The report said the U.S. Air Force has announced plans to spend approximately $44B on unclassified space-focused research and development efforts in the next five years.

Some of the companies that stand to benefit from the increased space budget include Lockheed Martin, Boeing, Northrop Grumman, Booz Allen Hamilton and Aerojet Rocketdyne, according to the report.

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Written by Jane Edwards

is a staff writer at Executive Mosaic, where she writes for ExecutiveBiz about IT modernization, cybersecurity, space procurement and industry leaders’ perspectives on government technology trends.

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