The United States Air Force said on Tuesday that it had awarded Lockheed Martin Corp (LMT.N) a contract valued at $1.9 billion to complete work on another two more missile-warning satellites as part of the Space-Based Infrared Systems (SBIRS) system, Reuters reported.
Announced in the Pentagon's daily digest of major contract awards, the contract runs through Sept. 30, 2022.
The Pentagon said the contract funds completion of the fifth and sixth satellites in the SBIRS system. It features performance incentives and options for acoustic testing, launch operations and early on-orbit testing.
Reuters said it comes on top of advanced procurement funding awarded to Lockheed earlier to begin purchasing parts that take a great deal of time to order. The contract will also fund completion of the associated ground operations and processing updates.
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