NEWTOWN, Pa, 06/02/2008 -- The Greater Philadelphia Section of the American Institute of Aeronautics and Astronautics (AIAA) has selected a Lockheed Martin [NYSE: LMT] team as the winner of the 2008 Space Systems Award for the successful completion of the modernized Global Positioning System IIR (GPS IIR-M) production program.

The American Institute of Aeronautics and Astronautics (AIAA) advanced the state of aerospace science, engineering, and technological leadership. AIAA's Greater Philadelphia Section, which serves aerospace professionals in the Delaware Valley, established the annual award to recognize outstanding achievements in satellite systems, orbital mechanics, space experiments, space simulations, or other space-related systems or research.

Lockheed Martin Space Systems, Valley Forge, Pa., and its navigation payload provider ITT of Clifton, N.J. designed and built 21 GPS IIR satellites for the Air Force and subsequently modernized eight of those spacecraft, designated IIR-M, to enhance operations and navigation signal performance.

Work on the final IIR-M satellite, which features a demonstration payload that will transmit the new third civil signal known as L5, was completed in March and is planned for launch this year from Cape Canaveral.

We are extremely proud that we have been selected for this important honor, said Dave Podlesney, Lockheed Martin's GPS IIR-M program director. The overall success of GPS IIR-M program reflects the entire team's hard work and dedication to mission success and we look forward to further expanding the system's mission capabilities with the next-generation GPS III satellite program.

The GPS constellation provides critical situational awareness and precision weapon guidance for the military. The worldwide system also supports a wide range of civil, scientific and commercial functions – from air traffic control to the Internet – with precision location and timing information.

On May 15, 2008, the U.S. Air Force Space and Missile Systems Center, Los Angeles Air Force Base, Calif. awarded a team led by Lockheed Martin a $1.46 billion contract to build the next-generation Global Positioning System Space System program, known as GPS III. This program will improve position, navigation, and timing services for the warfighter and civil users worldwide and provide advanced anti-jam capabilities yielding superior system security, accuracy and reliability.

Headquartered in Bethesda, Md., Lockheed Martin employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation reported 2007 sales of $41.9 billion.