Lockheed Expects Satellite Sales to Level Off

INTERVIEW-Lockheed sees flatter satellite sales

A top Lockheed Martin Corp (LMT.N) executive expects sales of commercial and military satellites to level off after years of strong growth, but said orders could still emerge for monitoring climate change and tracking objects in space.

“Our sales projections have grown dramatically in the first part of this decade. I see that kind of flattening out a little bit … because we’re through a lot of heavy development,” Joanne Maguire, executive vice president of Lockheed’s Martin Space Systems Co, told Reuters in an interview.

Lockheed’s commercial and military space revenue soared more than 50 percent to $8.1 billion in 2008 from $5.3 billion in 2002. Maguire gave no exact forecast for 2009 sales.

Maguire cited widespread concern about future defense spending, given the world economic crisis, a drive for acquisition reform and vows to cut troubled programs.

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