09:20 AM EST, 11/04/2024 (MT Newswires) -- (Updates with Lockheed Martin's ( LMT ) response in the fourth paragraph.)

Lockheed Martin's ( LMT ) current procurement activity with Australia for a single orbit geostationary earth orbit-based satellite communications system is being ceased, Australia's Defence department said Monday.

"With the acceleration in space technologies and evolving threats in space since the project's commencement, Defence has assessed that a single orbit GEO-based satellite communications system would not meet strategic priorities," the department added.

The department also said it must focus on a multi-orbit capability to enhance "resilience" for the Australian Defence Force.

"Lockheed Martin ( LMT ) will continue to support the Commonwealth to meet its strategic needs and is proud to be partnering with the Australian Defence Force on many ongoing programs," a Lockheed spokesperson told MT Newswires in an email. "We are committed to preserving our sovereign workforce with impacted staff being redeployed across other existing and emerging programs where possible."

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