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Lockheed Wins $68M For GPS III Satellite R&D

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Lockheed Martin Corp. (NYSE: LMT) has won a $67, 961, 418 contract to provide space engineering services to the U.S. Air Force, the Defense Department announced Friday.

The Bethesda, Md.-based company will provide on-orbit research and development in support of GPS III space vehicles one and two.

Work under the cost-plus-fixed-fee contract will occur in Newton, Pa. and the Pentagon expects the work to finish by Ma7 17, 2014.

The Space and Missile Center’s GPS unit in El Segundo, Calif. is the contracting activity.

Lockheed is providing the Air Force with a launch and checkout capability ahead of the GPS III satellites’ scheduled 2014 launch.

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