This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Lockheed Martin Powers On The First GPS III Satellite

DENVER, Feb. 28,  2013 /PRNewswire/ -- The Lockheed Martin [NYSE: LMT] team developing the U.S. Air Force's next generation Global Positioning System III  satellites has turned on power to the system module of the program's first spacecraft, designated GPS III Space Vehicle One (SV-1). The milestone is a key indication the team is on track to deliver the first satellite for launch availability in 2014.

The GPS III program will affordably replace aging GPS satellites, while improving capability to meet the evolving demands of military, commercial and civilian users. GPS III satellites will deliver better accuracy and improved anti-jamming power while enhancing the spacecraft's design life and adding a new civil signal designed to be interoperable with international global navigation satellite systems.

"This milestone is the latest in a series of critical events signifying that our joint government and industry GPS III team is performing efficiently and meeting its commitments," said Lt Col Todd Caldwell, the U.S. Air Force's GPS III program manager.

Successfully powering on GPS III SV-1 demonstrates mechanical integration, validates the satellite's interfaces and leads the way for electrical and integrated hardware-software testing.  The satellite will complete its Assembly, Integration and Test (AI&T) in Lockheed Martin's new GPS Processing Facility (GPF) designed for efficient and affordable satellite production. Like in aircraft or automobile manufacturing, each GPS III satellite will move through sequential work stations for various AI&T operations, culminating with shipment to the launch site.

"Turning power on to the first GPS III satellite is a major milestone for the team," said Keoki Jackson, vice president of Lockheed Martin's Navigation Systems mission area. "The successful integration of the first satellite's system module follows on the heels of our pathfinder GPS III Non-Flight Satellite Testbed (GNST), and demonstrates the great value of the investments made by the Air Force to implement low-risk spacecraft acquisition.  In this challenging budget environment, we are focused on delivering the critical GPS III capabilities to users affordably and on schedule."

Lockheed Martin is currently under contract for production of the first four GPS III satellites, and advanced procurement funding of long-lead components for the fifth, sixth, seventh and eighth satellites. The Air Force plans to purchase up to 32 GPS III satellites.

The GPS III team is led by the Global Positioning Systems Directorate at the U.S. Air Force Space and Missile Systems Center. Lockheed Martin is the GPS III prime contractor with teammates ITT Exelis, General Dynamics, Infinity Systems Engineering, Honeywell, ATK and other subcontractors. Air Force Space Command's 2nd Space Operations Squadron (2SOPS), based at Schriever Air Force Base, Colo., manages and operates the GPS constellation for both civil and military users.

Headquartered in Bethesda, Md., Lockheed Martin is a global security and aerospace company that employs about 120,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration, and sustainment of advanced technology systems, products, and services. The Corporation's net sales for 2012 were $47.2 billion.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,820.07 +7.88 0.04%
S&P 500 2,089.46 +0.32 0.02%
NASDAQ 5,109.0130 +6.2050 0.12%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs