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Lockheed Martin (LMT) Receives U.S. Air Force Contract To Sustain GPS Ground Station

 January 15, 2013 01:33 PM
 


(By Balaseshan) Lockheed Martin Corp. (NYSE: LMT) said it has received a contract worth $100 million from the U.S. Air Force Space Command Space and Missile Center to sustain the ground control segment for the Global Positioning System satellite constellation.

The contract's period of performance is from January 2013 through June 2019. The demands for near 100% system availability, as well as the fiscal constraints being placed on the GPS program are critical factors in sustaining the GPS control station.

Lockheed Martin will provide sustainment for the GPS control segment, which enables Air Force Space Command 2nd Space Operations Squadron to perform on-orbit operational control of the GPS satellite constellation.

[Related -Lockheed Martin Corporation (NYSE:LMT): How A Small Budget Deal Impacts Defense Contractors?]

Under the new contract, Lockheed Martin will provide support for command and control ground systems, systems engineering,  ground equipment simulation and software testing, among others.

On January 10, the company said it has received a contract totaling $755 million from the U.S. Army Aviation and Missile Command for hardware and services associated with the combat-proven PATRIOT Advanced Capability-3 (PAC-3) Missile Segment program.

The contract includes fiscal year 2013 missile and command launch system production for the U.S. Army and a follow-on sale of the PAC-3 Missile to Taiwan. In 2009, Taiwan became the fifth international customer for the PAC-3 Missile.

[Related -Lockheed Martin Corporation (LMT): iStock's #1 Growth And Income Stock]

LMT is trading up 0.33% at $94.22 on Tuesday. The stock has been trading between $80.14 and $95.92 for the past 52 weeks.

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