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Investing.com -- Lockheed Martin Corporation has been awarded two contract modifications from the U.S. Department of Defense totaling approximately $48.6 million.
The first award is a $29.4 million modification to a previously awarded contract for Joint Air-to-Surface Standoff Missile enterprise software. This adjustment increases the total contract value to $185.4 million from $156 million.
Work on the missile software contract will be performed at King of Prussia, Pennsylvania, with completion expected by March 21, 2029. The contract involves foreign military sales to Australia, Finland, Japan, Netherlands, and Poland. The Air Force Life Cycle Management Center at Eglin Air Force Base, Florida, is managing this contract.
The second modification, worth $19.2 million, relates to Lockheed Martin’s Global Positioning System III follow-on Award Fee Period Six. This brings the total value of this contract to $4.12 billion from $4.10 billion.
Work for the GPS III contract will be conducted at Littleton, Colorado, with completion scheduled for March 4, 2025. The Space Systems Command, Military Communication and Positioning, Navigation, and Timing at Los Angeles Air Force Base, California, is overseeing this contract.
The Department of Defense is funding these contracts with fiscal 2021, 2024, and 2025 research and development funds, as well as Foreign Military Sales funds.
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