Lockheed Wins $120M For AF GPS Long-Lead Parts; Keoki Jackson Comments

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.

Lockheed’s subcontractors for the project include ITT Exelis (NYSE: XLS), General Dynamics (NYSE: GD), ATK (NYSE: ATK), Infinity Systems Engineering and others.

“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.