About Lockheed Martin Aircraft Center
A leading global military contractor, Lockheed Martin supplies just about all kinds of aircraft to government and commercial customers. The US government is Lockheed's biggest customer, accounting for about 71% of revenue (the Department of Defense alone accounts for 61%). It makes combat aircraft, unmanned aircraft, helicopters, satellites, and spacecraft, as well as ship and submarine combat technology and missiles and missile defense systems. Lockheed's flagship F-35 jet fighter accounts for more than 25% of sales.
The company operates through four business segments: Aeronautics, Rotary and Mission Systems (RMS), Space Systems, and Missiles and Fire Control (MFC).
Lockheed Martin's Aeronautics business generates approximately 40% of sales and manufactures advanced military aircraft such as the F-35, F-16, and C-130, combat and air mobility aircraft, and unmanned air vehicles and related technologies.
The Rotary and Mission Systems segment (almost 20%) makes products for military and commercial use and includes its Blackhawk and Seahawk helicopters and mission and combat systems for ships, submarines, helicopters, and fixed-wing aircraft. It also offers sea- and land-based missile defense systems, radar systems, simulation and training services, and unmanned systems and technologies.
The Space Systems segment (approximately 25%) provides satellite and space transportation systems and strategic and defensive missile systems.
Missiles and Fire Control (almost 20%) provides air and missile defense systems; tactical missiles and air-to-ground precision strike weapon systems; and systems for logistics and fire control. Other products in this business are mission operations support and readiness, energy management services, and manned and unmanned ground vehicles.
Overall, product sales account for about 85% of revenue and service sales for the remainder.
Headquartered in Bethesda, MD, Lockheed Martin operates 375-plus facilities globally.
The US accounts for almost 75% of sales, followed by Europe and Asia Pacific, each generating about 10%. The Middle East and other countries account for the remaining revenue.
Sales and Marketing
Lockheed Martin serves US and international customers with products and services for defense, civil, and commercial applications. The company is focused on the defense, space, intelligence, homeland security, and information technology (including cybersecurity) markets.
Almost 75% of sales come from the US government while more than 25% comes from international customers, including foreign military sales contracted through the US government. The remaining revenue primarily represents the company's commercial business in the US.
Lockheed Martin has grown steadily in recent years with a constant revenue stream from its military aircraft orders. Revenue has increased about 48% since 2015.
In 2019 revenue rose 11% to $59.8.0 billion from $53.8 billion in 2018, driven by the Aeronautics segment (up $2.5 billion) and Missiles and Fire Control (up $1.7 billion).
Lockheed reported net earnings of $6.2 billion in 2019 and $5.0 billion in 2018. Both net earnings and earnings per share were affected by the factors mentioned above. Earnings per share also benefited from a net decrease of approximately 1 million common shares outstanding from December 31, 2018 to December 31, 2019 as a result of share repurchases, partially offset by share issuances under our stock-based awards and certain defined contribution plans.
Cash at the end of fiscal 2019 was $1.5 billion, an increase of $742 million from the prior year. Cash from operations contributed $7.3 billion to the coffers, while investing activities used $1.2 million, mainly for capital expenditures related to equipment, facilities infrastructure and information technology. Financing activities used another $5.3 billion for dividends to stockholders and the company's stock repurchase program.
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 is focused on capitalizing on its successful F-35 fighter jet program and investing in innovative new technologies to drive growth.
Lockheed relies on the F-35 jet fighter, in its fifth generation, to be a staple in military air groups around the world. It continues to ramp up production of the fighter; in 2018, it opened a new 65,000-square-foot parts manufacturing plant in Pinellas Park, FL and expanded its facility in Johnstown, PA for final finish work on the F-35. It also moved its F-16 production from its Fort Worth, Texas manufacturing facility to Greenville, SC to make more room for F-35 production.
In addition to the F-35s, Lockheed is working on weapons systems upgrades in the F-22 Raptor for the US Air Force.
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.
244 Terminal Rd
Greenville, SC 29605-5508
Phone: 1 (864) 422-6262
Employer Type: Privately Owned
Human Resources Compliance and Regulatory: Janice Lehman
Employees (This Location): 1,200
Employees (All Locations): 8,200