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The FORMOSAT-3/COSMIC (Constellation Observing System for Meteorology, Ionosphere, and Climate) mission consisting of six Low-Earth-Orbit (LEO) satellites is an experimental scientific “Research Mission” for demonstrating the usefulness of utilizing Global Positioning System (GPS) Radio Occultation (RO) data in operational numerical weather prediction, climate monitoring, and space weather forecasting. The success of the FORMOSAT-3/COSMIC mission has initiated a new era for operational GPS RO soundings. The World Meteorological Organization (WMO) has recommended continuing RO observations operationally and the scientific community urges the continuation of the mission and the planning for a follow-on “Operational Mission.” As a result, and in order to bridge the global GPS RO data gap, Taiwan and the U.S. intend to collaborate to jointly develop and launch FORMOSAT-7/COSMIC-2, a high-reliability next generation follow-on satellite system. FORMOSAT-7/COSMIC-2 is planned to provide continuity of GPS RO data and the next generation of Global Navigation Satellite System (GNSS) RO data to users. This paper will describe the objectives of FORMOSAT-7/COSMIC-2, as well as the technology that will be used to meet those objectives.