Lockheed Martin announced that Raytheon, ITT and General Dynamics have joined its team to develop a new global positioning satellite system, GPS III, for the US Air Force. Spectrum Astro is also a partner in the program. The Lockheed Martin-led team is currently preparing for the GPS III Phase A competition. The new satellite system will enhance space-based navigation and performance.   . . .   Robert R. Walker, a former CFO at Agilent Technologies Inc., has been elected to the board of Electro Scientific Industries Inc., a Portland, Ore.-based supplier of manufacturing equipment to the semiconductor, passive component and electronic interconnect markets.   . . .   Universal Display Corp., a developer of flat-panel display technology, recently received a 2003 Army SBIR Phase II Quality Award at a ceremony at the Pentagon in Washington, DC, for its US Army Small Business Innovation Research Phase II project, "Transparent Organic Phosphorescent Backlights." The project focused on the development of high-efficiency, stacked, full-color, transparent and white backlights incorporating Universal Display Corp.'s phosphorescent OLED and transparent OLED technologies. This work supported the Army's goal to develop low-power consumption displays for land warrior applications.