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Lockheed Poised for $2.6 Billion U.S. Satellite Contract

The U.S. Air Force is poised to order two more Advanced Extremely High Frequency military communications satellites from Lockheed Martin Space Systems.

Lockheed Martin Corp. (LMT) is expected to receive a military satellite contract from the U.S. Air Force by Dec. 31 that may be valued at almost $2.6 billion, according to the service and the company.

The contract would cover the purchase of two space vehicles, the final installment in a six-satellite constellation of the Advanced Extremely High Frequency communications program.

The contract would be a fixed-price incentive type, requiring Lockheed Martin, the world’s largest defense contractor, to share the cost of overruns or material failures. Contracts for the previous four satellites were cost-plus types that required the Air Force to foot the entire bill.

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