06:01 PM EDT, 06/18/2024 (MT Newswires) -- Lockheed Martin ( LMT ) said late Tuesday the National Aeronautics and Space Administration selected the company to develop the Geostationary Extended Observations weather satellite constellation for the National Oceanic and Atmospheric Administration.

The baseline contract is for three spacecraft, with options for four additional spacecraft. Lockheed said the contract's total estimated value is $2.27 billion, including options.

The first Geostationary Extended Observations launch is planned for the early 2030s and will maintain and advance the National Oceanic and Atmospheric Administration's critical geostationary observations through the late 2050s, the company said.

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