Lockheed Martin wins $7.2B Air Force satellite contract

DENVER (AP) — The U.S. Air Force says it is awarding Lockheed Martin a $7.2 billion contract to build 22 next-generation Global Positioning System satellites.

Air Force Secretary Heather Wilson said in a Friday statement the satellites, known as GPS 3 Follow-On, "will provide greater accuracy, and improved anti-jamming capabilities, making them more resilient."

Chip Eschenfelder, a spokesman for Lockheed Martin Space, says the satellites will be built at the company's Waterton campus in the Denver suburb of Littleton.

The Air Force says the first GPS IIIF satellite could be ready for launch in 2026.

Lockheed has been constructing 10 GPS 3 satellites for the Air Force under a previous contract.

Should you invest $1,000 in Lockheed Martin right now?

Before you consider Lockheed Martin, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Lockheed Martin wasn't on the list.

While Lockheed Martin currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

7 Stocks to Buy And Hold Forever Cover

Click the link below and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.

Get This Free Report

Featured Articles and Offers

7 Dividend Stocks with Double-Digit Growth Rates

7 Dividend Stocks with Double-Digit Growth Rates

Discover top dividend stocks defying myths with both secure dividends & double-digit growth. Explore our list of 7 blue-chips setting 2024 standards.

Search Headlines: