Rapid Fire: 2011-03-08

• Forbes critiques Pentagon’s rush to bring military functions performed by contractors in-house.

• Union workers at Lockheed Martin’s Marietta, GA plant ratify a 3-year labor contract, despite calls from union leaders to reject it. The plant manufactures the C-130J transport aircraft and F-22 Raptor fighter.

• The global aerospace and defense market is projected to reach $1.2 trillion by 2014, a 29% increase over 2009 levels, according to Datamonitor.

• US State Department pulls deal to sell 50 refurbished armored troop carriers to Libya for $77 million.

• Taiwan lawmakers concerned about declining defense spending in the face of China’s buildup.

• India successfully tests its ballistic missile defense system against a Prithvi variant.