About Lockheed Martin Corporation

A leading global military contractor, Lockheed Martin supplies just about all kinds of aircraft to government and commercial customers. The US government is far and away Lockheed’s biggest customer, accounting for about 70% of revenue (the Department of Defense alone accounts for 60%). It makes combat aircraft, unmanned aircraft, helicopters, satellites and spacecraft, as well as ship and submarine combat technology and missiles and missle defense systems. Lockheed’s flagship F-35 jet fighter accounts for about 25% of its revenue. The company delivered the 300th F-35 in 2018. It traces its roots to 1912.

Operations

Lockheed Martin operates through several business segments: Aeronautics (almost 40% of sales) Space Systems (20%), Missiles & Fire Control (about 15%), and Rotary & Mission Systems (almost 30%).

The Aeronautics business researches, designs, develops, manufactures, and upgrades advanced military aircraft F-35, F-16, and C-130, among others), including combat and air mobility aircraft, unmanned air vehicles and related technologies. 

Missiles and Fire Control provides air and missile defense systems; tactical missiles and air-to-ground precision strike weapon systems; logistics; fire control systems; mission operations support, readiness, engineering support and integration services; manned and unmanned ground vehicles; and energy management services. 

The Rotary and Mission Systems segment designs, makes, services, and supports a variety of products for military and commercial use. Products include helicopters; ship and submarine mission and combat systems; mission systems and sensors for rotary and fixed-wing aircraft; sea and land-based missile defense systems; radar systems; the Littoral Combat Ship; simulation and training services; and unmanned systems and technologies. 

The Space business works on satellites, strategic and defensive missile systems, and space transportation systems.

Geographic Reach

Lockheed Martin maintains a global presence in more than 30 countries around the world. International customers account for about 30% of its revenue, including foreign military sales contracted through the US government.

Sales and Marketing

Lockheed Martin serves US and international customers with products and services that have defense, civil, and commercial applications. Its main areas of focus are in defense, space, intelligence, and homeland security.

Financial Performance

Lockheed Martin has grown steadily in recent years with a constant revenue stream from its military aircraft and an injection of sales from its 2015 acquisition of Sikorsky Aircraft. In 2017 revenue rose 8% to $5.7 billion from 2016, with each segment contributing to the increase. The Aeronautics segment provided the biggest boost with sales jumping $2.4 billion (up 13%) in 2017 from 2016 from higher sales of F-35 (up 18% in 2017) and C-130 aircraft. 

Lockheed’s profit fell to $2 billion in 2017 from $5.3 billion in 2016. Compliance with the US Tax Cuts and Jobs Act, which became law in late 2017, reduced the company’s profit for the year. Income before taxes was $5.3 billion in 2017 and $4.8 billion in 2016. The company expects to benefit from lower tax rates in coming years because of the tax law.

The company’s cash increased by $1 billion to $2.8 billion in 2017 from 2016.

Strategy

With a change in presidential administrations, the US federal government has been more open to defense contractors like Lockheed Martin. The company is active in the nation’s capital with its representatives visiting elected and military officials to get its name on government contracts.

Lockheed relies on the F-35 jet fighter, in its fourth generation, to be a staple in military air groups around the world. The company is making more space for producing the F-35 by moving F-16 production from its Fort Worth, Texas manufacturing facility to Greenville, South Carolina. The Greenville facility was to produce up to 19 new F-16s for Bahrain in a deal worth as much as to $2.8 billion dollars.

Lockheed Martin also maintains active production of its helicopters including the Black Hawk and the CH-52K from Sikorsky. The military realms of land, sea, air, and space will continue to find use for the Aegis Combat System, the PAC-3 missile program, and the THAAD.

The company has teamed up with fellow aerospace giant Boeing to form United Launch Alliance to compete for space-related business. ULA competes with Space Exploration Corp. (SpaceX) to launch NASA missions as the agency turns to private companies to get astronauts into orbit.

Mergers and Acquisitions

In late 2015, the company acquired Black Hawk helicopter manufacturer Sikorsky Aircraft for $9 billion. Lockheed Martin bought Sikorsky from United Technologies and integrated its operations into its Rotary & Mission Systems segment.

Company Background

Brothers Allan and Malcolm Loughead (pronounced "Lockheed") started their first aviation venture, the Alco Hydro-Aeroplane Company, in 1912. Alco's first product, the Model G floatplane, didn't sell. In 1916 the brothers relocated from Santa Barbara to San Francisco and formed the Loughead Aircraft Manufacturing Company. That company's first product, the F-1 seaplane, made a successful debut in early 1918, but the end of WWI effectively ended the potential market for the F-1. Loughead Aircraft went bankrupt in 1921.

The Loughead brothers joined Fred Keeler in 1926 to form the Lockheed Aircraft Company in Southern California. John Northrop (who later founded Northrop Corporation) designed Lockheed's first airplane, the Vega (flown by Amelia Earhart). The company was acquired in 1929 by Detroit Aircraft Corporation, which went bankrupt in 1931 as the Great Depression devastated the airplane industry.

Robert Gross, Carl Squier, and Lloyd Stearman bought Lockheed in 1932. The company produced such aviation classics as the P-38 Lightning fighter, the U-2 spy plane, and the SR-71 Blackbird spy plane. It also produced submarine-launched ballistic missiles (Polaris, 1958), military transports (C-5 Galaxy, 1968), and the L-1011 TriStar airliner (1971).

Glenn Martin started Martin Marietta in 1917. Martin Marietta made the first US-built bombers, as well as military and commercial flying boats. During the 1950s Martin Marietta made missiles, electronics, and nuclear systems. In 1961 it merged with American-Marietta Company (construction materials and chemical products).

Strapped with debt after defeating a hostile takeover by Bendix in 1982, Martin Marietta sold many of its businesses. It bought General Electric's aerospace business (1992) and became part of Lockheed in 1995.

- Show Less + Show Full Description

Company News and Press Releases

- Show Less + Show More News and Press Releases

Lockheed Martin Corporation

6801 Rockledge Dr
Bethesda, MD 20817-1877
Phone: 1 (301) 897-6000
Fax: 1 (301) 897-6704

Stats

  • Employer Type: Public
  • Stock Symbol: LMT
  • Stock Exchange: NYSE
  • Chairman, President, and CEO: Marillyn A. Hewson
  • Chairman, President, and CEO: Marillyn A. Hewson
  • EVP and CFO: Bruce L. Tanner
  • 2017 Employees: 100,000

Major Office Locations

  • Bethesda, MD

Other Locations

  • Anniston, AL
  • Courtland, AL
  • Daleville, AL
  • Huntsville, AL
  • Madison, AL
  • Troy, AL
  • Camden, AR
  • Lr Afb, AR
  • Fort Huachuca, AZ
  • Gilbert, AZ
  • Goodyear, AZ
  • Aliso Viejo, CA
  • Buellton, CA
  • Dublin, CA
  • Edwards, CA
  • Goleta, CA
  • Lompoc, CA
  • Los Angeles, CA
  • Manteca, CA
  • Palmdale, CA
  • Palo Alto, CA
  • Ridgecrest, CA
  • San Diego, CA
  • San Francisco, CA
  • San Jose, CA
  • San Luis Obispo, CA
  • Santa Clara, CA
  • Santa Clarita, CA
  • Santa Cruz, CA
  • Santa Maria, CA
  • Sunnyvale, CA
  • Ventura, CA
  • Aurora, CO
  • Boulder, CO
  • Centennial, CO
  • Colorado Springs, CO
  • Denver, CO
  • Englewood, CO
  • Highlands Ranch, CO
  • Littleton, CO
  • Bridgeport, CT
  • Farmington, CT
  • North Haven, CT
  • Shelton, CT
  • Stratford, CT
  • Washington, DC
  • Cape Canaveral, FL
  • Eglin A F B, FL
  • Fort Walton Beach, FL
  • Hilliard, FL
  • Hurlburt Field, FL
  • Jacksonville, FL
  • Kissimmee, FL
  • Lake Mary, FL
  • Lakeland, FL
  • Melbourne, FL
  • Miami, FL
  • Ocala, FL
  • Oldsmar, FL
  • Orlando, FL
  • Oviedo, FL
  • Palm Beach Gardens, FL
  • Pinellas Park, FL
  • Port Orange, FL
  • Riviera Beach, FL
  • Shalimar, FL
  • Titusville, FL
  • West Palm Beach, FL
  • Acworth, GA
  • Atlanta, GA
  • Augusta, GA
  • Fairburn, GA
  • Fort Benning, GA
  • Kings Bay, GA
  • Marietta, GA
  • Saint Marys, GA
  • Warner Robins, GA
  • Honolulu, HI
  • Kekaha, HI
  • Lihue, HI
  • Pearl City, HI
  • O Fallon, IL
  • Indianapolis, IN
  • Lexington, KY
  • New Orleans, LA
  • Ponchatoula, LA
  • Burlington, MA
  • Chelmsford, MA
  • Lexington, MA
  • Lowell, MA
  • Marion, MA
  • Marlborough, MA
  • Pittsfield, MA
  • Aber Prov Grd, MD
  • Baltimore, MD
  • Beltsville, MD
  • Boonsboro, MD
  • Chula Vista, MD
  • Clarksburg, MD
  • Gaithersburg, MD
  • Germantown, MD
  • Greenbelt, MD
  • Hanover, MD
  • Lanham, MD
  • Lexington Park, MD
  • Lusby, MD
  • Mount Airy, MD
  • Poolesville, MD
  • Rockville, MD
  • Upper Marlboro, MD
  • Windsor Mill, MD
  • Bath, ME
  • Eagan, MN
  • Saint Louis, MO
  • Bay Saint Louis, MS
  • Gulfport, MS
  • Greensboro, NC
  • Bellevue, NE
  • Papillion, NE
  • Merrimack, NH
  • Nashua, NH
  • Atlantic City, NJ
  • Cherry Hill, NJ
  • Marlton, NJ
  • Moorestown, NJ
  • Mount Laurel, NJ
  • Tinton Falls, NJ
  • Albuquerque, NM
  • Las Cruces, NM
  • White Sands Missile, NM
  • Fallon, NV
  • Las Vegas, NV
  • Liverpool, NY
  • New Hartford, NY
  • New York, NY
  • Niagara Falls, NY
  • Owego, NY
  • Rochester, NY
  • Syracuse, NY
  • Uniondale, NY
  • Akron, OH
  • Beavercreek, OH
  • Columbus, OH
  • Lawton, OK
  • Oklahoma City, OK
  • Hillsboro, OR
  • Archbald, PA
  • Audubon, PA
  • Chambersburg, PA
  • Coatesville, PA
  • Jessup, PA
  • Johnstown, PA
  • King Of Prussia, PA
  • Malvern, PA
  • Middletown, RI
  • Blythewood, SC
  • Columbia, SC
  • Greenville, SC
  • North Charleston, SC
  • Piedmont, SC
  • Sumter, SC
  • Nashville, TN
  • Azle, TX
  • Benbrook, TX
  • Colleyville, TX
  • El Paso, TX
  • Fort Bliss, TX
  • Fort Hood, TX
  • Fort Worth, TX
  • Friendswood, TX
  • Georgetown, TX
  • Grand Prairie, TX
  • Grapevine, TX
  • Harlingen, TX
  • Houston, TX
  • Keller, TX
  • Killeen, TX
  • Lufkin, TX
  • Marfa, TX
  • Richland Hills, TX
  • San Antonio, TX
  • Hill Afb, UT
  • Hill Air Force Base, UT
  • Layton, UT
  • West Jordan, UT
  • Arlington, VA
  • Ashburn, VA
  • Chantilly, VA
  • Chesapeake, VA
  • Fairfax, VA
  • Hampton, VA
  • Herndon, VA
  • King George, VA
  • Leesburg, VA
  • Lorton, VA
  • Manassas, VA
  • Norfolk, VA
  • Suffolk, VA
  • Vienna, VA
  • Virginia Beach, VA
  • Yorktown, VA
  • Bothell, WA
  • Poulsbo, WA
  • Richland, WA
  • Silverdale, WA
  • Woodland, WA
  • Milwaukee, WI
  • Charleston, WV
  • Calgary, Canada
  • Dartmouth, Canada
  • Ottawa, Canada
  • Petawawa, Canada
  • Saint-Laurent, Canada
  • Beijing, China
  • København, Denmark
  • Fareham, England
  • Farnborough, England
  • Lincoln, England
  • Pershore, England
  • Paris, France
  • Berlin, Germany
  • Chiyoda-Ku, Japan
  • Oslo, Norway
  • Singapore, Singapore
  • Seoul, South Korea
  • Ankara, Turkey
- Show Less + Show More