Jun 25, 2014 ASDNews Source : Lockheed Martin
The U.S. Air Force awarded Lockheed Martin [NYSE: LMT] a $1.86 billion fixed-price contract to complete the production of the fifth and sixth Geosynchronous Earth Orbit (GEO) satellites, known as GEO-5 and GEO-6, for the Space Based Infrared System (SBIRS). SBIRS provides our nation continuous early warning of ballistic missile launches and other tactical intelligence.
The Air Force awarded initial funding for the two satellites in a 2012 contract to complete non-recurring engineering activities and to procure select long lead parts. In 2013, the service awarded the advance procurement contract to secure additional long lead parts.