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Air Force awards contracts to Boeing, Northrop

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The U.S. Air Force awarded contracts to replace the aging Minuteman III intercontinental ballistic missile ground-based strategic deterrent.

Boeing will earn $349 million and Northrop Grumman will be awarded $328 million over the course of the three-year contract.

"The Minuteman III is 45 years old. It is time to upgrade," Air Force Chief of Staff General David Goldfein said in a statement on Monday.

Read more from Reuters.

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