Lockheed Martin

Lockheed Martin is a global aerospace, defense, and advanced technologies corporation formed by the merger of the Lockheed Corporation and Martin Marietta in 1995. Headquartered in Bethesda, Maryland, it is the world's largest defense contractor by revenue for the fiscal year 2022, with significant operations spanning aerospace, missiles, fire control, and space technology. The company is a primary contractor for the Department of Defense and also serves numerous international allies and NASA.

History

The corporation's lineage traces back to pioneering aviation companies, with the Lockheed Corporation founded by the Lockheed brothers in 1926 and Martin Marietta originating from the Glenn L. Martin Company founded in 1912. The 1995 merger, a landmark consolidation during the post-Cold War defense industry downturn, created an industrial giant. This was followed by the acquisition of Loral's defense electronics and systems integration business in 1996, and the spacecraft and satellite units of General Dynamics and Unisys. Key historical products from its heritage companies include the P-38 Lightning, P-80 Shooting Star, and the Titan family of intercontinental ballistic missiles and launch vehicles.

Corporate structure

The company is organized into four primary business segments: Aeronautics, which is responsible for tactical aircraft like the F-35 Lightning II; Missiles and Fire Control, handling weapons systems such as THAAD and Javelin; Rotary and Mission Systems, which includes Sikorsky helicopters and C4ISR systems; and Space, which builds satellites, strategic missiles, and space exploration systems. It is led by Chairman and CEO James D. Taiclet and operates major facilities across the United States, including in Fort Worth, Orlando, and Sunnyvale, as well as internationally.

Products and services

Its portfolio encompasses a vast array of advanced military and civilian technology. This includes renowned fighter aircraft such as the F-16 Fighting Falcon, F-22 Raptor, and F-35 Lightning II, along with airlifters like the C-130J Super Hercules. The company produces critical missile defense systems including the Patriot Advanced Capability-3 and the Aegis Combat System. In space, it manufactures satellites for the U.S. Space Force, GPS III satellites, and contributed to the Orion spacecraft for NASA's Artemis program. It also provides cyber security, logistics, and systems engineering services.

Major projects and contracts

Among its most significant programs is the F-35 Lightning II, the Pentagon's most expensive weapons system, developed with international partners including the United Kingdom and Italy. The company is the prime contractor for the Space Force's next-generation Overhead Persistent Infrared satellite constellation. It also holds the contract for the Ground Based Strategic Deterrent program to modernize the U.S. ICBM fleet and builds the Orion Multi-Purpose Crew Vehicle for deep-space exploration. Other key projects include the THAAD defense system and the UH-60 Black Hawk helicopter.

Corporate affairs and controversies

As a major defense contractor, it is deeply involved in political lobbying and is a top contributor to political campaigns through its PAC. The company has faced several controversies, including allegations of improper influence during the development of the F-35 and the F-22. It has also been scrutinized for cost overruns and delays on major programs like the F-35 and the Littoral Combat Ship. Furthermore, its products have been at the center of debates regarding the ethics of arms sales to nations involved in the Yemen conflict, such as Saudi Arabia and the United Arab Emirates.

Category:Aerospace companies of the United States Category:Defense companies of the United States Category:Companies listed on the New York Stock Exchange