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Lockheed Martin Beats Boeing For $1.463 Billion Air Force GPS III Contract

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Monday, May 19th, 2008

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The Air Force gave Lockheed Martin [LMT] the coveted GPS III next-generation military-civilian navigation-satellites contract over Boeing [BA], the Pentagon said last week. That pact is worth $1.463 billion. The new constellation of satellites will be acquired in three blocks: GPS IIIA, GPS IIIB and GPS IIIC, according to the Pentagon. "GPA IIIA will evolve existing capabilities, introduce a new L1C civil signal, increase Earth coverage M-Code power for authorized military users, provide a graceful growth path to achieve full…

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