| Lockheed Beats Boeing for $1.46 Billion GPS Satellite |
Lockheed Martin Corp., the world's largest defense company, beat Boeing Co. for a $1.46 billion U.S. Air Force award to build a new network of navigation satellites for military and civilian use.
The contract covers development of the first two Global Positioning System III satellites, with options for 10 more, the Defense Department said in a statement. The total value of all 12 satellites could reach $3.57 billion, Air Force Colonel Steve Madden said.
The current constellation of 33 GPS satellites lets the Air Force direct so-called smart bombs to targets and also helps civilian pilots, drivers and hikers pinpoint their locations. Boeing's ties date to the first award in 1974 and since then it has delivered almost twice as many satellites as Lockheed, which won its first order in 1989. Today's award cedes the next generation to Bethesda, Maryland-based Lockheed.
The new GPS III satellites will feature a signal compatible with the European Union's Galileo constellation, as well as improved accuracy and anti-jamming. The Air Force may choose to buy another 20 satellites and has the option to award contracts for those to Lockheed or call for new bids, Madden said.
The first GPS III satellite will be launched in 2014, and "each time we launch a new satellite overall constellation accuracy improves," Madden said. Unlike earlier generations of positioning satellites, the new ones will offer similar accuracy to both military and civilian users, he said.
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