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LMT Grabs Another Big Contract – $7.2B for Satellites

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Air Force GPS! [2]
It seems like Lockheed Martin (LMT) just keeps winning big contracts, the latest– $7.2 billion from the U.S. Air Force to produce up to 22 “Global Positioning System III” satellites (currently fixed price for 2, total of 32, up to 22 for this specific deal; I know… that’s a little confusing, but it all equals big bucks $$$).  When you are pulling in business orders in the billions range, stockholders are gonna be happy happy happy.  I know I am.

From Bloomberg:

“Lockheed was the sole source because Boeing Co. and Northrop Grumman Corp. decided against bidding when the Air Force — openly unhappy about Lockheed’s four years of delivery delays for the initial satellites — decided to open for competition the next group of satellites.” [1]

Looks like LMT had this one in the bag and the other biggies just threw in the towel.

Of note, some background:

“The new GPS satellites promise increased accuracy for navigation, a signal compatible with similar European satellites and improved security against cyberattacks” [1]


[1] – https://www.bloomberg.com/news/articles/2018-09-14/lockheed-wins-gps-satellite-contract-worth-up-to-7-2-billion

[2] – Pic: https://en.wikipedia.org/wiki/Global_Positioning_System