Report: Lockheed to Build Additional GPS III Follow-On Satellites Under $511M Contract Option

Lockheed Martin (NYSE: LMT) secured a $511M contract option to produce the 13th and 14th spacecraft for the GPS III Follow-On communications satellite program managed by the Space and Missile Systems Center, SpaceNews reported Thursday.

The U.S. Air Force selected Lockheed to build 22 satellites under a potential $7.2B contract awarded in September 2018.

SMC, which now operates under the U.S. Space Force, placed the additional order for GPS IIIF space vehicles following completion of a critical design review, according to the report.

The Bethesda, Maryland-based company serves as the prime contractor for the initial program covering 10 satellites.

GPS IIIF is designed to provide global positioning, navigation and timing services to U.S. warfighters, allies and civilian users worldwide. The modernized version of the satellite features a laser retroreflector array, anti-jam protection capacities, a nuclear detonation detection platform and a search-and-rescue technology.

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