Australia Cancels Lockheed Martin Satellite Project in Favor of Multi-Orbit System
Australia's Department of Defence has canceled a multi-billion-dollar satellite communications project with Lockheed Martin redirecting its focus toward a multi-orbit satellite system. Originally, Lockheed Martin Australia was selected to deliver a Geostationary Earth Orbit (GEO) satellite that would serve as Australia’s first sovereign-controlled satellite communication system across the Indo-Pacific. However, technological advancements and emerging security threats have prompted Australia to rethink its defense space strategy.
The Move to Multi-Orbit Capability
According to the Department of Defence, a single-orbit GEO system no longer aligns with Australia’s strategic priorities. Instead, a multi-orbit capability will bolster the resilience of Australian Defence Force (ADF) communications. This shift ensures greater adaptability and preparedness against evolving threats in the space domain.
Budget and Investment in Space Capabilities
Prime Minister Anthony Albanese, in a recent radio interview, emphasized that while defense spending is increasing, the government aims to optimize its budget allocations. Although details of the canceled contract’s exact value were not disclosed, Australia has committed between A$9 billion and A$12 billion ($13.87 billion USD) to expand its space defense capabilities.


FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026
Ford and Geely Explore Strategic Manufacturing Partnership in Europe
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings
Instagram Outage Disrupts Thousands of U.S. Users
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off
Nvidia Nears $20 Billion OpenAI Investment as AI Funding Race Intensifies
AMD Shares Slide Despite Earnings Beat as Cautious Revenue Outlook Weighs on Stock 



