NASA shuts down $2 billion satellite refueling project after contractor Maxar is criticized for poor performance
Publishing timestamp: 2024-03-01 17:51:52
Summary
NASA is shutting down a $2 billion project to test satellite refueling in space due to poor performance by the lead contractor, Maxar. The project, OSAM-1, has been in development since 2015 but has fallen years behind schedule and exceeded its budget. Maxar was criticized for underestimating the scope and complexity of the work, leading to the cancellation of the project.
Sentiment: NEGATIVE
Tickers: NOC,
Keywords: business news, northrop grumman corp, environment, the edge, aerospace and defense industry, space industry, science, business, breaking news: business, technology, breaking news: technology, space exploration, transportation,
Source: https://www.cnbc.com/2024/03/01/nasa-shuts-down-maxar-led-osam-1-satellite-refueling-project.html