Investing.com -- Lockheed Martin (NYSE: LMT ), based in Littleton, Colorado, has secured a $509,759,501 contract modification for the production of Global Positioning System III Follow-On Space Vehicles 21 and 22. This adjustment increases the total value of the contract to a cumulative $4,102,235,382.
The work, which involves the development of these space vehicles, will be carried out in Littleton, Colorado. The project is slated for completion by November 2031. At the time of the award, fiscal 2025 missile procurement funds amounting to $55,035,868 were obligated.
The contract modification was awarded by the Space Systems Command, located in Los Angeles, California. The Space Systems Command is responsible for the procurement of space operations and systems for the United States military. This modification is part of an ongoing contract (FA8807‐18‐C‐0009) previously awarded to Lockheed Martin.
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