Lockheed Martin

This article is about the company. For the transit center in Sunnyvale, California, see Lockheed Martin Transit Center.

Lockheed Martin Corporation
Company typePublic
IndustryAerospace, Defense
Predecessors
FoundedMarch 15, 1995; 29 years ago (1995-03-15)
HeadquartersBethesda, Maryland, United States
Area served
Worldwide
Key people
James D. Taiclet (Chair, President & CEO)
RevenueIncrease US$67.6 billion (2023)
Increase US$8.51 billion (2023)
Increase US$6.92 billion (2023)
Total assetsDecrease US$52.5 billion (2023)
Total equityDecrease US$6.84 billion (2023)
Number of employees
122,000 (2023)
Divisions
Websitelockheedmartin.com
Footnotes / references
[1][2]

The Lockheed Martin Corporation is an American defense and aerospace manufacturer with worldwide interests. It was formed by the merger of Lockheed Corporation with Martin Marietta in March 1995. It is headquartered in North Bethesda, Maryland. As of January 2022, Lockheed Martin employs approximately 115,000 employees worldwide, including about 60,000 engineers and scientists.[3] Reports from 2024 estimate that Lockheed Martin Corporation (LMT) holds a market cap of around $139.7 billion.[4]

Lockheed Martin is one of the largest companies in the aerospace, military support, security, and technologies industry. It was the world's largest defense contractor by revenue for fiscal year 2014.[5] In 2013, 78% of Lockheed Martin's revenues came from military sales;[6] it topped the list of US federal government contractors and received nearly 10% of the funds paid out by the Pentagon.[7] In 2009, US government contracts accounted for $38.4 billion (85%), foreign government contracts for $5.8 billion (13%), and commercial and other contracts for $900 million (2%).[8] Half of the corporation's annual sales are to the U.S. Department of Defense. Lockheed Martin is also a contractor for the U.S. Department of Energy and the National Aeronautics and Space Administration (NASA).[9]

Lockheed Martin operates in four business segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.[10] The company has received the Collier Trophy six times, including in 2001 for being part of developing the X-35/F-35B LiftFan Propulsion System[11][12][13] and most recently in 2018 for the Automatic Ground Collision Avoidance System (Auto-GCAS). Lockheed Martin is currently developing the F-35 Lightning II and leads the international supply chain, leads the team for the development and implementation of technology solutions for the new USAF Space Fence (AFSSS replacement),[14] and is the primary contractor for the development of the Orion command module.[15] The company also invests in healthcare systems, renewable energy systems, intelligent energy distribution, and compact nuclear fusion.[16]

  1. ^ "US SEC: Form 10-K Lockheed Martin Corporation". United States Securities and Exchange Commission. January 23, 2024.
  2. ^ "Lockheed Martin (NYSE:LMT) | Subsidiaries & Locations". AeroWeb. Barr Group Aerospace. Archived from the original on January 4, 2015. Retrieved November 15, 2013.
  3. ^ "CEO Speaker Series with James Taiclet of Lockheed Martin". Council on Foreign Relations. January 26, 2022. Retrieved January 30, 2022.
  4. ^ "What You Need to Know Ahead of Lockheed Martin's Earnings Release". October 1, 2024.
  5. ^ POC Top 20 Defence Contractors of 2014 Archived July 7, 2015, at the Wayback Machine. Retrieved: July 2015
  6. ^ DefenseIQ Top 10 defence companies in the world, 2013. Retrieved: July 6, 2015.
  7. ^ "Top 100 Contractors Report Fiscal Year 2013" (XLS). Federal Procurement Data System – Next Generation. General Services Administration. Retrieved January 2, 2015.
  8. ^ "2009 Annual Report" (PDF). LockheedMartin.com. Archived from the original (PDF) on October 17, 2012. Retrieved January 4, 2011.
  9. ^ "Lockheed Martin Corporation | American corporation". Encyclopedia Britannica. Retrieved March 27, 2020.
  10. ^ "Business Areas". Lockheed Martin. March 11, 2021.
  11. ^ Propulsion System in Lockheed Martin Joint Strike Fighter wins Collier Trophy Archived January 3, 2013, at the Wayback Machine Lockheed Martin press release, February 28, 2003. Retrieved: January 2010
  12. ^ "Propulsion system for a vertical and short takeoff and landing aircraft" (PDF). 1990. United States Patent 5209428 (pdf of original)
  13. ^ Collier Trophy; list of winners. Retrieved January 2010
  14. ^ Space Fence: Lockheed Martin Archived July 9, 2015, at the Wayback Machine, 2015. Retrieved: July 7, 2015.
  15. ^ Orion: Lockheed Martin Archived July 9, 2015, at the Wayback Machine, 2015. Retrieved: July 7, 2015.
  16. ^ CNF: Lockheed Martin, 2015. Retrieved: July 8, 2015