Air Force Awards Lockheed $1.5 Billion GPS III Contract

By Jason Simpson / May 16, 2008 at 5:00 AM
The Air Force has chosen Lockheed Martin to develop the next-generation navigation satellite constellation, continuing Boeing's recent slump in high-profile military contract competitions. The highly anticipated GPS III award -- worth $1.5 billion -- is for two research and development satellites, Air Force officials announced yesterday. The full five-option contract for 12 satellites is valued at $3.6 billion. On May 9, Pentagon acquisition executive John Young signed an acquisition decision memorandum for GPS III, green-lighting the Air Force to award...

Not a subscriber? Sign up for 30 days free access to exclusive, behind-the-scenes reporting on defense policy and procurement.

Log in to access this content.