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Lockheed Gets $744M Order to Build 3 More GPS IIIF Satellites for Space Force

Lockheed Martin (NYSE: LMT) will produce three additional GPS III Follow-On satellites for the U.S. Space Force under a $744 million contract option, SpaceNews reported Monday.

The award covers GPS IIIF space vehicles 18, 19 and 20 and marks the fourth contract option that the service exercised under a potential $7.2 billion contract that Lockheed received in 2018.

GPS IIIF is designed to deliver global positioning, navigation and timing support to U.S. military and civilian users and comes with an updated nuclear detection detonation payload, anti-jamming capabilities, a laser retroreflector array and a search-and-rescue technology.

In November 2021, the Space Force ordered space vehicles 15, 16 and 17 under a $737 million contract option.

Lockheed received a $511 million order to build the 13th and 14th GPS IIIF spacecraft for the service branch in 2020.

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