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Lockheed Adds Partners For New GPS System

By | September 3, 2003

      Lockheed Martin [NYSE: LMT] announced that Raytheon [NYSE: RTN], ITT [NYSE: ITT] and General Dynamics [NYSE: GD] have joined its team to develop the GPS III, the U.S. Air Force‘s next-generation Global Positioning System. The company had previously announced that Spectrum Astro had joined as a key partner in the program. The Lockheed Martin-led team currently is preparing for the GPS III A competition.

      John Sundquist, vice president for Lockheed Martin Navigation Systems, said the firm is excited to “combine our expertise with that of our partners in designing and producing a best value system that will be able to meet the needs of our customers for the next several decades.”

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