September 14, 2018 / 9:56 PM / 9 days ago

Lockheed wins $7.2 billion contract for U.S. Air Force GPS satellites

WASHINGTON, Sept 14 (Reuters) - The U.S. Air Force announced on Friday it had chosen Lockheed Martin to build 22 Global Positioning System satellites worth up to $7.2 billion.

The GPS III follow-on satellites are expected to be available for launch into space beginning in 2026, the Air Force said.

“The world is dependent on GPS, from getting directions to getting cash from an ATM machine or trading on the stock exchange,” Air Force Secretary Heather Wilson said in a news release. “These satellites will provide greater accuracy, and improved anti-jamming capabilities making them more resilient.”

Reporting by David Alexander; Editing by Eric Beech

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