Court filings or official statements from Lockheed Martin or Australian government

Australia Cancels $7 Billion Military Satellite Project with Lockheed Martin, Approved 18 Months Ago, Due to Budget Constraints

Nov 4, 2024, 03:15 AM

The Australian government, led by Prime Minister Anthony Albanese, has decided to cancel a planned $7 billion military-grade satellite communications project that was approved 18 months ago. The decision comes as the Defence budget lacks the necessary funds to support the initiative. The project, which was set to involve Lockheed Martin, has been characterized as a significant cut to the country's defense capabilities. Critics have expressed disappointment, labeling the move a betrayal, particularly in light of ongoing discussions about Australia's defense spending strategy. The cancellation reflects a broader review of defense expenditures amid economic pressures.