The U.S. Air Force has awarded Lockheed Martin more than $200 million in contract options to complete production of its fifth and sixth next-generation global positioning satellites, known as GPS
III, Lockheed announced in Denver Monday.
In February, the Air Force awarded Lockheed Martin a fixed price $120 million contract to procure long lead parts for a second set of four GPS III space vehicles.
The new award provides funding to complete the first two satellites in this order.
Full production funding for the next two space vehicles is expected in 2014.
Lockheed Martin is already under contract to produce four GPS III space vehicles.
The first two GPS III satellites are currently on the production floor at Lockheed Martin's GPS III Processing Facility in Denver.
"Lockheed Martin's GPS III program has rigorous testing plan and mission success focus aligned with the Air Force's back-to-basics approach, and is specifically designed to enable predictable and affordable recurring production through disciplined development and early risk reduction," said Mark Stewart, vice president of Lockheed Martin's Navigation Systems mission area.