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Lockheed grabs GPS satellite contract worth as much as $7.2B

Published 09/14/2018, 06:05 PM
© Reuters.  Lockheed grabs GPS satellite contract worth as much as $7.2B
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  • Lockheed Martin (NYSE:LMT) wins a contract valued at as much as $7.2B from the U.S. Air Force to produce as many as 22 additional Global Positioning System III satellites.
  • The award may eventually bring to 32 the number of advanced GPS III satellites that LMT could have on contract if options for all 22 are exercised.
  • The new GPS satellites promise increased accuracy for navigation, a signal compatible with similar European satellites and improved security against cyberattacks.
  • LMT was sole source after Boeing (NYSE:BA) and Northrop Grumman (NYSE:NOC) decided not to bid.
  • Now read: Lockheed Martin To Boost Your Dividend Income!


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