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Lockheed Martin, Raytheon Complete First Launch Exercise For GPS III Satellites

Lockheed Martin [LMT] and Raytheon [RTN] recently completed the first launch readiness exercise for the Air Force’s next generation Global Positioning System (GPS) III satellites, according to a Lockheed Martin statement. Lockheed Martin said the successful completion of the exercise is a key milestone demonstrating the team remains on schedule to achieve launch availability in 2014. The exercise, completed over a three-day period on Aug. 24 by mission operations personnel, validated the basic satellite command and control (C2) functions, tested…

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