NASA Selects Lockheed Martin To Build Next-Gen Spacecraft For NOAA; Cost-Plus-Award-Fee Contract Is Valued At ~$2.27B; Anticipated Period Of Performance For This Contract Includes Support For 10-Years Of On-Orbit Operations & 5-Years Of On-Orbit Storage
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NASA has awarded Lockheed Martin a $2.27 billion contract to build spacecraft for NOAA's GeoXO satellite program. The contract includes the development of three spacecraft with options for four more, and covers 10 years of on-orbit operations and 5 years of on-orbit storage.
June 18, 2024 | 8:44 pm
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Lockheed Martin has secured a $2.27 billion contract from NASA to build spacecraft for NOAA's GeoXO satellite program. This contract is expected to positively impact Lockheed Martin's revenue and long-term growth.
The $2.27 billion contract will significantly boost Lockheed Martin's revenue and long-term growth prospects. The 15-year support period ensures sustained income and strengthens Lockheed Martin's position in the aerospace sector.
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