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Air Force Awards $1.3 Billion to Lockheed Martin to Build First Two Next-Gen GPS III Satellites

Vivienne Machi By
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The Air Force on Wednesday awarded Lockheed Martin [LMT] a $1.3 billion contract to build the first two GPS III Follow-on (GPS IIIF) systems.The contract award follows a Sept. 14 announcement that the Air Force had picked Lockheed Martin to build the next generation of GPS III satellites. The company is currently building 10 systems under the GPS III contract, initially awarded in 2012. The first two GPS IIIF systems are named “Space Vehicles 11 and 12” in the announcement.The…

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