Astrium and Raytheon are teaming up to compete for a $91 million contract to oversee NATO's ballistic missile defense program.

Astrium, the world’s second largest space company, and Raytheon signed a teaming agreement that formalizes the companies’ plans to compete for the role as lead system engineers and integrators for the North Atlantic Treaty Organization’s Ballistic Missile Defense (BMD) Program.

NATO’s BMD Program oversees the development and execution of ballistic missile defense capabilities, which expanded in 2012 to include the defense of European populations and territories.

Once awarded, the contract will call for a 7-year period of performance with an estimated value of 67.6 million Euros (US $91 million).

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