LMT - How SpaceX Became a Korean Defense Contractor
Eight years ago, Elon Musk made a controversial decision .
Frustrated by the near-monopoly that the United Launch Alliance (ULA) -- a joint venture between Boeing (NYSE: BA) and Lockheed Martin (NYSE: LMT) -- had over rocket launches of U.S. military satellites, the CEO of upstart space company SpaceX sued the U.S. government to open up Air Force contracts to competitive bidding. It was a risky move, since Musk was suing SpaceX's biggest customer, but the lawsuit paid off.
The government settled with SpaceX, certifying it to launch military satellites, and set up the company for a huge run of success as an honest-to-goodness U.S. defense contractor. Since becoming certified to launch military payloads, SpaceX has put multiple satellites into orbit for the Air Force.
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How SpaceX Became a Korean Defense Contractor