Lockheed Wins $200M Contract for More GPS III Satellites

The U.S. Air Force has awarded Lockheed Martin more than $200 million in contract options to complete production of its fifth and sixth next-generation Global Positioning System satellites, known as GPS III.

In February, the Air Force awarded Lockheed Martin a fixed price $120 million contract to procure long lead parts for a second set of four GPS III space vehicles (SV 05-08). This new award provides funding to complete the first two satellites (SV 05-06) in this order. Full production funding for the next two space vehicles (SV 07-08) is expected in 2014.

Lockheed Martin is already under contract to produce four GPS III space vehicles (SV 01-04). The first two GPS III satellites are currently on the production floor at Lockheed Martin’s GPS III Processing Facility (GPF) in Denver, Colo.

GPS III is a critically important program for the Air Force, affordably replacing aging GPS satellites in orbit, while improving capability to meet the evolving demands of military, commercial and civilian users.

Read more at: http://www.lockheedmartin.com/us/news/press-releases/2013/december/1213-ss-gps3.html Keep Reading