Lockheed Martin has announced on the Air Force Association’s annual conference a brand new system of satellite buses that include both high-powered and nano-satellites. The announcement is a component with the company’s mission to incorporate enhancements and common components designed to keep costs down and speed up production for space-based projects.

“We’ve invested $300 million in revamping our satellite solutions from top to bottom, applying might know about learned from countless small sat and geostationary missions. We now have one family for each and every mission fully integrated with our end-to-end capabilities in ground stations, payloads and programs,” said Rick Ambrose, executive vice president of Lockheed Martin’s Space Systems unit.

Lockheed’s new category of satellite buses includes the LM 400 Series, an aftermarket version from the company’s small satellite bus with greater propulsion as well as the capability to fly in low-Earth orbit. The family also includes the LM 50 Series, a nano-satellite which has a diverse selection of power and size options.

All the announced satellites will share common components as part of a multiyear effort to relieve cost, increase component reliability and shorten design time.

“As technology evolves, customers have told us they need faster production cycles plus much more versatility for his or her dollar, and we’re listening” said Kay Sears, the vp of strategy and business development inside the Space System unit.

Lockheed had previously been awarded a $45.5 million get military code early-use software for GPS satellites, scheduled to become performed by December 2019. The Washington Post reported in August that Lockheed Martin intends to build a $350 million satellite production facility near Denver so that you can “re-assert itself” in an increasingly competitive satellite development sector.

Lockheed’s new satellite bus program is the latest in the group of announcements from major technology firms and defense contractors to expand their forays into satellite technology. The Washington Post noted a $1.7 billion deal involving SoftBanks to blend Intelstate with OneWeb to generate smaller, cheaper satellite models.

And Lockheed competitor Northop Grumman recently reached a deal to purchse Orbital ATK in excess of $9.2 billion in an attempt to be expanded the company’s space and missile portfolio, with it’s sales likely to grow by $5 billion because of this.

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