Colorado company secures U.S. military contract extension worth over $975 million

COLORADO SPRINGS, Colo. (KRDO) – Lockheed Martin Space just landed a contract change worth up to $977.6 million that will fund military efforts to develop missile-launch detection satellites.

The company – based in Jefferson County – has already been working to design and build three of these satellites after signing a U.S. Air Force contract in 2021 worth as much as $8.2 billion. The satellites are scheduled to launch by 2028.

But new funds were added to the contract through a modification that covers post-launch work through July 31, 2029. The contract also says the additional funds will go toward starting the satellites’ operations and supporting those working with the satellites in orbit.

According to our Denver partner 9NEWS, nearly $183.7 million for the modification is obligated in the current fiscal year’s federal budget.

Work on the satellites is expected to take place over the next four years at Lockheed Martin Space locations in Boulder and Aurora, as well as at the company's location in Sunnyvale, California.