(By Balaseshan) Lockheed Martin Corp. (NYSE: LMT) said it has received approval from the U.S. Air Force for its sniper pod full-rate production. In addition, the security and aerospace company said it has completed work on U.S. Navy's second MUOS satellite.
The U.S. Air Force approved full-rate production for Lockheed Martin's Sniper Advanced Targeting Pod (ATP) under the ATP-Sensor Enhancement (ATP-SE) program.
Under the U.S. Air Force's NET-T Quick Reaction Capability contract, Sniper ATP-SE enables a point-to-multipoint data link architecture that, when employed with other platforms, provides an extended range "beyond line-of-sight" capability allowing operators, analysts and decision makers access to real-time situational awareness data.
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In a separate release, the company said it has completed required system testing on the second satellite in the U.S. Navy's Mobile User Objective System (MUOS), designated MUOS-2. The satellite has been placed in storage to await its scheduled launch date in July 2013.
The MUOS constellation will provide significantly improved and secure communications for mobile warfighters, including simultaneous voice, video and data services – similar to the capabilities experienced today with smartphones.
The first MUOS satellite, launched February 24, and the associated ground system are currently providing legacy on orbit capability, followed by the launch of MUOS-2 in 2013. The five-satellite, global constellation is expected to achieve full operational capability in 2015.
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In the spring of 2013, Lockheed Martin will remove the satellite from storage, perform final spacecraft component installations and conduct a final factory confidence test in Sunnyvale, California, prior to shipping MUOS-2 to Cape Canaveral Air Force Station, Florida, for its launch aboard an Atlas V rocket.
LMT is trading down 0.72% at $93.34 on Wednesday. The stock has been trading between $80.14 and $95.92 for the past 52 weeks.