Space Force Awards Lockheed $582M GPS Satellite Engineering Contract

The U.S. Space Force has awarded Lockheed Martin (NYSE: LMT) a $581.6 million contract to engineer legacy and modernized Global Positioning System satellites operating in orbit.

Lockheed will collect data, resolve anomalies and perform cybersecurity work to support the Block IIR, IIRM, III and IIIF variants of the GPS constellation, the Department of Defense said Thursday.

The company will also provide technical services, administer government-furnished systems and conduct special studies under the indefinite-delivery/indefinite-quantity contract.

Work will take place in Colorado Springs, Colorado, and Los Angeles, California.

The U.S. Air Force selected Lockheed in September 2018 for a potential $7.2 billion fixed-price-type contract to manufacture GPS III Follow-On satellites for military communication use.

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