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Lockheed Martin
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Lockheed Martin
The Lockheed Martin Corporation is an American defense and aerospace manufacturer. It is headquartered in North Bethesda, Maryland, United States. The company was formed by the merger of Lockheed Corporation with Martin Marietta on March 15, 1995.
Lockheed Martin operates 4 divisions: Lockheed Martin Aeronautics (39% of 2024 revenues), which includes Skunk Works, the F-35 Lightning II strike fighter, the Lockheed C-130 Hercules military transport aircraft, the F-16 Fighting Falcon, and the F-22 Raptor; Lockheed Martin Missiles and Fire Control (18% of 2024 revenues), which includes the MIM-104 Patriot surface-to-air missile, the Terminal High Altitude Area Defense, the M270 Multiple Launch Rocket System, the Precision Strike Missile, the AGM-158 JASSM air-launched cruise missile, the AGM-158C LRASM anti-ship missile, the AGM-114 Hellfire, the Apache fire-control system, the Sniper Advanced Targeting Pod, Infrared search and track, and support services for special forces; Lockheed Martin Rotary and Mission Systems (24% of 2024 revenues), which includes Sikorsky Aircraft such as the Sikorsky UH-60 Black Hawk, Sikorsky HH-60 Pave Hawk, Sikorsky VH-92 Patriot, Sikorsky CH-53K King Stallion, and Sikorsky SH-60 Seahawk, the Aegis Combat System, Littoral combat ships, Freedom-class littoral combat ships, River-class destroyers, and the C2BMC missile defense program; and Lockheed Martin Space (18% of 2024 revenues), which includes the UGM-133 Trident II ballistic missile, the Orion spacecraft, the Next-Generation Overhead Persistent Infrared, GPS Block III, hypersonic weapons and transport layer programs and the Ground-Based Interceptor.
In 2024, 73% of the company's revenue came from the federal government of the United States, including 65% from the United States Department of Defense. In 2024, 26% of revenue was from sales of the F-35 fighter.
Lockheed Martin is also a contractor for the U.S. Department of Energy and the National Aeronautics and Space Administration (NASA). It also provides products and services to the Department of Defense and the Department of Energy to the Department of Agriculture and the Environmental Protection Agency. It is involved in surveillance and information processing for the CIA, the FBI, the Internal Revenue Service (IRS), the National Security Agency (NSA), the Pentagon, the Census Bureau, and the Postal Service.
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 and in 2018 for the Automatic Ground Collision Avoidance System (Auto-GCAS). Lockheed Martin currently produces the F-35 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), and is the primary contractor for the development of the Orion command module. The company also invests in healthcare systems, renewable energy systems, intelligent energy distribution, and compact nuclear fusion.
Merger talks between Lockheed Corporation and Martin Marietta began in March 1994, with the companies announcing their $10 billion planned merger on August 30, 1994. The headquarters for the combined companies would be at Martin Marietta headquarters in North Bethesda, Maryland. The deal was finalized on March 15, 1995, when the two companies' shareholders approved the merger. The segments of the two companies not retained by the new company formed the basis for L-3 Communications, a mid-size defense contractor in its own right. Lockheed Martin also later spun off the materials company Martin Marietta Materials.[citation needed]
The company's executives received large bonuses directly from the government as a result of the merger. Norman R. Augustine, who was at the time CEO of Martin Marietta, received an $8.2 million bonus.
Both companies contributed important products to the new portfolio.[citation needed] Lockheed products included the Trident missile, P-3 Orion maritime patrol aircraft, U-2 and SR-71 Blackbird reconnaissance airplanes, F-117 Nighthawk, F-16 Fighting Falcon, F-22 Raptor, C-130 Hercules, A-4AR Fightinghawk and the DSCS-3 satellite. Martin Marietta products included Titan rockets, Sandia National Laboratories (management contract acquired in 1993), Space Shuttle External Tank, Viking 1 and Viking 2 landers, the Transfer Orbit Stage (under subcontract to Orbital Sciences Corporation) and various satellite models.[citation needed]
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Lockheed Martin
The Lockheed Martin Corporation is an American defense and aerospace manufacturer. It is headquartered in North Bethesda, Maryland, United States. The company was formed by the merger of Lockheed Corporation with Martin Marietta on March 15, 1995.
Lockheed Martin operates 4 divisions: Lockheed Martin Aeronautics (39% of 2024 revenues), which includes Skunk Works, the F-35 Lightning II strike fighter, the Lockheed C-130 Hercules military transport aircraft, the F-16 Fighting Falcon, and the F-22 Raptor; Lockheed Martin Missiles and Fire Control (18% of 2024 revenues), which includes the MIM-104 Patriot surface-to-air missile, the Terminal High Altitude Area Defense, the M270 Multiple Launch Rocket System, the Precision Strike Missile, the AGM-158 JASSM air-launched cruise missile, the AGM-158C LRASM anti-ship missile, the AGM-114 Hellfire, the Apache fire-control system, the Sniper Advanced Targeting Pod, Infrared search and track, and support services for special forces; Lockheed Martin Rotary and Mission Systems (24% of 2024 revenues), which includes Sikorsky Aircraft such as the Sikorsky UH-60 Black Hawk, Sikorsky HH-60 Pave Hawk, Sikorsky VH-92 Patriot, Sikorsky CH-53K King Stallion, and Sikorsky SH-60 Seahawk, the Aegis Combat System, Littoral combat ships, Freedom-class littoral combat ships, River-class destroyers, and the C2BMC missile defense program; and Lockheed Martin Space (18% of 2024 revenues), which includes the UGM-133 Trident II ballistic missile, the Orion spacecraft, the Next-Generation Overhead Persistent Infrared, GPS Block III, hypersonic weapons and transport layer programs and the Ground-Based Interceptor.
In 2024, 73% of the company's revenue came from the federal government of the United States, including 65% from the United States Department of Defense. In 2024, 26% of revenue was from sales of the F-35 fighter.
Lockheed Martin is also a contractor for the U.S. Department of Energy and the National Aeronautics and Space Administration (NASA). It also provides products and services to the Department of Defense and the Department of Energy to the Department of Agriculture and the Environmental Protection Agency. It is involved in surveillance and information processing for the CIA, the FBI, the Internal Revenue Service (IRS), the National Security Agency (NSA), the Pentagon, the Census Bureau, and the Postal Service.
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 and in 2018 for the Automatic Ground Collision Avoidance System (Auto-GCAS). Lockheed Martin currently produces the F-35 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), and is the primary contractor for the development of the Orion command module. The company also invests in healthcare systems, renewable energy systems, intelligent energy distribution, and compact nuclear fusion.
Merger talks between Lockheed Corporation and Martin Marietta began in March 1994, with the companies announcing their $10 billion planned merger on August 30, 1994. The headquarters for the combined companies would be at Martin Marietta headquarters in North Bethesda, Maryland. The deal was finalized on March 15, 1995, when the two companies' shareholders approved the merger. The segments of the two companies not retained by the new company formed the basis for L-3 Communications, a mid-size defense contractor in its own right. Lockheed Martin also later spun off the materials company Martin Marietta Materials.[citation needed]
The company's executives received large bonuses directly from the government as a result of the merger. Norman R. Augustine, who was at the time CEO of Martin Marietta, received an $8.2 million bonus.
Both companies contributed important products to the new portfolio.[citation needed] Lockheed products included the Trident missile, P-3 Orion maritime patrol aircraft, U-2 and SR-71 Blackbird reconnaissance airplanes, F-117 Nighthawk, F-16 Fighting Falcon, F-22 Raptor, C-130 Hercules, A-4AR Fightinghawk and the DSCS-3 satellite. Martin Marietta products included Titan rockets, Sandia National Laboratories (management contract acquired in 1993), Space Shuttle External Tank, Viking 1 and Viking 2 landers, the Transfer Orbit Stage (under subcontract to Orbital Sciences Corporation) and various satellite models.[citation needed]
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