Home / Contract Awards / Lockheed Gets $7.2B Air Force Follow-On Contract for GPS III Satellites

Lockheed Gets $7.2B Air Force Follow-On Contract for GPS III Satellites

Lockheed Martin (NYSE: LMT) has secured a potential $7.2B follow-on contract from the U.S. Air Force to build an additional 22 GPS III satellites.

The service said Friday it expects the initial GPS IIIF satellite to be available for liftoff by 2026 under the fixed-price contract.

“Getting to a manufacturing steady state in a fixed-price environment will allow us the opportunity to realize substantial cost savings, deliver on a planned schedule and provide avenues for needed warfighter capability upgrades in the future,” said Lt. Gen. John Thompson, commander of Air Force Space Command’s space and missile systems center and program executive officer for space.

Lockheed submitted its bid for the GPS III Follow-On program in April two months after the service issued a solicitation for the satellite development initiative.

Check Also

Former KeyW Exec Steve Niezgoda to Join Cornerstone Defense as COO

Steve Niezgoda, formerly a senior vice president at KeyW, has been named chief operations officer of Cornerstone Defense in a move that takes effect on June 24.

Alion Gets $75M Task Order to Develop On-the-Move Satcom Tech for Army, Marine Corps

Alion Science and Technology has received a potential $75M task order to help the U.S. Army and Marine Corps develop on-the-move satellite communications technology for multiple weapons systems deployed at the Naval Information Warfare Center Pacific.