Lockheed Martin wins $514M Space Force GPS contract

INVESTING.COMJun 15, 7:22 PM UTC
Lockheed Martin wins $514M Space Force GPS contract

Investing.com - Lockheed Martin (NYSE:LMT) announced today that the U.S. Space Force awarded the company a $514 million contract to build Global Positioning System IIIF Space Vehicles 23 and 24. The contract brings Lockheed Martin’s total GPS IIIF commitment to 14 spacecraft.

The GPS IIIF satellites will deliver positioning, navigation and timing capabilities for military and civilian users. The satellites feature Regional Military Protection capability that provides a 63-fold increase in anti-jamming capabilities, additional M-Code-enabled satellites for secure GPS connection, and a digital navigation payload.

Earlier this year, all Lockheed Martin-made GPS III satellites reached orbit. GPS III SV09 and SV10 each launched on accelerated timelines.

GPS IIIF satellites starting with SV13 are built on the evolved LM2100 Combat Bus, providing increased cyber-hardening, improved spacecraft power, propulsion and electronics. The company has completed the core mate milestone for three GPS IIIF satellites, with all other IIIF satellites in different phases of production.

Lockheed Martin was recently awarded a $105 million contract to continue modernization of the GPS ground segment. The company is advancing GPS IIIF production at its Denver area facilities, employing augmented reality and digital twins to accelerate build rates.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

ProPicks AI evaluates LMT alongside thousands of other companies every month using 100+ financial metrics. Using powerful AI to generate exciting stock ideas, it looks beyond popularity to assess fundamentals, momentum, and valuation. The AI has no bias—it simply identifies which stocks offer the best risk-reward based on current data with notable past winners that include Super Micro Computer (+185%) and AppLovin (+157%). Want to know if LMT is currently featured in any ProPicks AI strategies, or if there are better opportunities in the same space?

Continue reading on INVESTING.COM

Related Articles