Lockheed Martin (NYSE: LMT) has won two contracts worth $120 million combined to acquire long-lead parts for four U.S. Air Force GPS satellites.
These contracts cover satellites five through eight for the 32-satellite GPS III program and the company is contracted to produce the first four satellites, the company said Monday.
“As our world becomes increasingly dependent on GPS technology, the new GPS III satellites will be a critical element of both our national and economic security, ” said Keoki Jackson, vice president of Lockheed’s navigation systems mission area.
The GPS III satellites are intended for military, commercial and civilian users and contain a civil signal for interoperability . GPS III satellites will deliver better accuracy and improved anti-jamming power while enhancing the spacecraft’s design life and adding a new civil signal designed to be interoperable with international global navigation satellite systems.