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Lockheed, Raytheon winning companies to start USA’s $1.46 trillion missile spend-up

Lockheed, Raytheon Win Contracts for New Nuclear Cruise Missile, Bloomberg, By Anthony Capaccio, August 24, 2017 

  • Boeing left out in contest for successor to its weapon
  • Long-Range Standoff Missile seen valued at $10 billion

Lockheed Martin Corp. and Raytheon Co. were picked by the U.S. Air Force to begin development of a new nuclear cruise missile for long-range bombers, while Boeing Co. was shut out of the effort to replace its aging weapon that’s in use today.

The initial contracts of about $900 million each are for a 54-month phase to refine designs and prove out technologies for the Long-Range Standoff missile, Captain Emily Grabowski, an Air Force spokeswoman, said in a statement Wednesday.

After that, the Air Force will pick one of the contractors for full production of as many as 1,000 missiles — not all of them topped by nuclear warheads — in an acquisition phase the service values at about $10 billion……

With this week’s awards, the outlines of the Pentagon’s long-range nuclear modernization program are emerging. The Defense Department published in May the first official cost report for the 12-vessel Columbia-class nuclear-missile submarines, estimated as a $127 billion acquisition program.

The Congressional Budget Office is working on its first 30-year look at the cost to develop, acquire and sustain a new nuclear arsenal. While lawmakers and analysts have estimated it’s a $1 trillion program, the Arms Control Association last week projected the potential cost through 2047 at as much as $1.46 trillion.

— With assistance by Nafeesa Syeed  https://www.bloomberg.com/news/articles/2017-08-23/lockheed-raytheon-win-contracts-for-new-nuclear-cruise-missile

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August 25, 2017 - Posted by | business and costs, USA, weapons and war

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