The U.S. Air Force has awarded Lockheed Martin (NYSE: LMT) a potential $2.93 billion contract to design and build three missile warning satellites that would succeed the service’s current Space Based Infrared System.
Lockheed’s space systems business will also analyze requirements, procure critical path flight hardware and conduct risk reduction efforts ahead of a system critical design review of the Next Generation Overhead Persistent Infrared Geosynchronous Earth Orbit Space Vehicles, the Defense Department said Tuesday.
The Space and Missile Systems Center will obligate $80 million in fiscal 2018 research, development, test and evaluation funds at the time of award.
Contract work will occur in Sunnyvale, Calif., and is slated for completion by April 30, 2021.
The Air Force announced in May its selection of Lockheed and Northrop Grumman (NYSE: NOC) to support the Next-Gen OPIR initiative.
