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Lockheed to Build Two GPS IIIF Satellites Under $1.4B Air Force Contract

Lockheed Martin (NYSE: LMT) has received a potential nine-year, $1.36B contract to produce the 11th and 12th GPS IIIF satellites for the U.S. Air Force.

The contract includes space vehicle test bed and simulators, nonrecurring engineering support, launch and on-orbit services, space vehicle storage and options for up to 22 GPS III satellites, the Defense Department said Wednesday.

Work will occur in Littleton, Colo., through Aug. 31, 2027.

The Space and Missile System Center awarded the contract through a competitive acquisition process and will obligate $10.1M in research, development, test and evaluation funds for fiscal 2018 at the time of award.

Lockheed is the incumbent on the initial GPS III contract and has been selected to build an additional 22 GPS III satellites under a potential $7.2B follow-on contract.

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