Lockheed Martin Selected to Develop Next Generation Weather Satellite Constellation
Rhea-AI Summary
NASA has selected Lockheed Martin (NYSE: LMT) to develop the next-generation weather satellite constellation, GeoXO, for NOAA. The initial contract encompasses three spacecraft, with options for four more, totaling an estimated $2.27 billion. GeoXO will enhance weather forecasts and environmental monitoring, building on the GOES-R series. The satellites will feature advancements in air pollution tracking and marine ecosystem observations. The first launch is planned for the early 2030s, with operations extending into the 2050s. Lockheed Martin aims to leverage its 50+ years of experience and modernized LM2100™ satellite bus technology for this mission.
Positive
- Lockheed Martin awarded a $2.27 billion contract for GeoXO satellites.
- GeoXO mission will extend to the late 2050s, ensuring long-term business.
- New satellite capabilities for enhanced weather and environmental monitoring.
- Leverages Lockheed Martin’s 50+ years of experience in weather spacecraft.
- Use of modernized LM2100™ satellite bus and SmartSat™ technology.
Negative
- Significant financial risk with $2.27 billion investment dependent on successful implementation.
- Potential delays as the first GeoXO launch is not planned until the early 2030s.
News Market Reaction
On the day this news was published, LMT gained 1.38%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
NOAA's Geostationary Extended Observations weather satellites to bring new critical measurements and advanced weather forecasting capability
The baseline contract is for three spacecraft with options for four additional spacecraft. The total estimated value of the contract including options is
The GeoXO mission will continue and expand upon critical observations of weather provided by the Lockheed Martin-built GOES-R Series geostationary satellites to include new observations of our oceans and air pollution. GeoXO's new capabilities will deliver more accurate weather forecasting and address emerging environmental issues and challenges that threaten our economy and safety. GeoXO and the nation's weather satellites are vital infrastructure for national resilience.
"Our team is excited and ready to move forward to design and field this critical national capability," said Kyle Griffin, vice president and general manager of Commercial Civil Space at Lockheed Martin. "Our GeoXO design draws heavily from what we've learned with GOES-R spacecraft over the last 15 years, while incorporating new, digital technologies not only onboard the vehicles but in the design and development of this powerful, weather-monitoring platform of the future."
A Deeper Look into Our Severe Weather, Shifting Climate
GeoXO represents an expansion of our nation's geostationary weather satellite enterprise, its capabilities and continued
With new instruments onboard, the observatories will have a major impact including: the first geostationary observations of our coastal ecosystems that supports resilient coastal communities, near real-time hyperspectral sounding to map the state of the atmosphere, enhanced lightning observations for severe convection monitoring, and continental
A Weather Constellation for the Future
The first GeoXO launch is planned for the early 2030s and will maintain and advance NOAA's critical geostationary observations through the late 2050s.
The GeoXO spacecraft is based on Lockheed Martin's modernized LM2100™ satellite bus, which provides more performance and flexibility for addressing NOAA's mission needs over the coming decades. The platform features SmartSat™ technology that enables new software pushes and capabilities as environmental data needs change over time.
Half a Century, 120+ Weather Spacecraft on Orbit
For over 50 years, Lockheed Martin has built and launched more than 120 weather and environmental spacecraft for our government's civil and military agencies.
The revolutionary GOES-R mission provided the first lightning observations from geostationary orbit, the ability to detect remote wildland fire ignitions, and unprecedented tracking of severe weather that have proven indispensable to the nation and sets a new bar for future expectations from the public, forecasters, and researchers who depend on the geostationary weather mission.
The launch of the fourth and final spacecraft in the series, GOES-U, is scheduled for June 25, 2024 from NASA's
About Lockheed Martin
Lockheed Martin is a global defense technology company driving innovation and advancing scientific discovery. Our all-domain mission solutions and 21st Century Security® vision accelerate the delivery of transformative technologies to ensure those we serve always stay ahead of ready. More information at Lockheedmartin.com.
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SOURCE Lockheed Martin
FAQ
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