Artist's rendering of a GPS III satellite. Image: Lockheed Martin.
By Pat Host |
10 years ago |
03/31/2014

The Air Force said Monday it awarded Lockheed Martin [LMT] nearly $246 million to procure Global Positioning System (GPS) III space vehicles seven and eight.

The award is is a modification to a previous cost-plus-incentive-fee contract. Work on GPS III-7 is expected to complete by April 1, 2018, while work on GPS III-8 is expected to wrap up by Oct. 1, 2018.

Artist's illustration of a GPS III spacecraft. Photo: Lockheed Martin.
Artist’s illustration of a GPS III spacecraft. Photo: Lockheed Martin.

DoD said $17 million was obligated on award. GPS III is the Air Force’s next generation positioning, navigation and timing (PNT) satellite. Lockheed Martin is prime contractor for GPS III.