LONDON: Defence contractor Lockheed Martin Corp is the frontrunner to win a one billion pound ($1.61 billion) contract for a UK ground-based air defence system, the Observer said on Sunday. The newspaper said that industry insiders indicated Lockheed was the favourite to win the contract from Britain's Ministry of Defence. Other contenders include Frances' Thales, European aerospace firm EADS and MDBA, a joint venture between Britain's BAE Systems and Italy's Finmeccanica, according to the Observer. The four competitors are expected to be cut to two over the coming two weeks, with MBDA the most likely to join Lockheed in the...