Alliant Techsystems Inc. (ATK), yesterday, celebrated the first major hardware delivery under the Lockheed Martin Corp. (LMT) contract awarded in April 2010. Alliant delivered the first two A2100 composite satellite structures and the first ship set of propellant tanks for the GPS III satellites Lockheed Martin is building for the U.S. Air Force.
The GPS III structure, made from lightweight, high-strength composite materials, and the propellant tanks were delivered to Lockheed Martin's Mississippi Space & Technology Center, an advanced propulsion, thermal, and metrology facility located at the John C. Stennis Space Center, for integration and testing.
Alliant said the hardware contract entails the manufacturing of a non-flight satellite testbed structure and the first two GPS III satellite structures. The testbed structure was delivered in May and the first space vehicle structure was delivered in August. The first ship set of tanks were also delivered in early August. The contract also includes options for the same hardware for up to 10 additional satellites.
Alliant has been manufacturing A2100 structures and propellant tanks for Lockheed Martin since the satellite model was introduced in 1996 for the company's commercial satellite customers. The composite structures are manufactured at Alliant’s San Diego, California facility, with support from the Alliant Beltsville, Maryland operation, and the propellant tanks are manufactured at Alliant’s Commerce, California facility.
The joint U.S. Air Force and industry team continues to meet major milestones under the GPS III program. The team understands the importance of GPS III and is focused on delivering capabilities to meet the demands of more than one billion GPS users worldwide.
The next generation GPS III satellites will deliver significant improvements over current GPS space vehicles. GPS III will improve position, navigation and timing services and provide advanced anti-jam capabilities, yielding superior system security, accuracy and reliability.
The next-generation GPS III satellites will deliver signals three times more accurate than the current GPS spacecraft and provide three times more power for military users, while also adding a new international civil signal (L1C) that is designed to be interoperable with other global navigation satellite systems. The first GPS III satellite is on track for delivery and available for launch in 2014.
Based in Minneapolis, Minnesota, Alliant Techsystems supplies aerospace and defense products to U.S. government agencies. The company also supplies ammunition and related accessories to law enforcement agencies and commercial customers.
Alliant Techsystems currently retains a Zacks #3 Rank, which translates into a short-term Hold rating. We retain our long-term Neutral recommendation on the stock.
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