Lockheed Martin
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| Type | Public (NYSE: LMT) |
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| Industry | Aerospace Defense Global Security |
| Founded | 1995 |
| Headquarters | Bethesda, Maryland, USA |
| Area served | Worldwide |
| Key people | Robert J. Stevens (Chairman) & (CEO) Christopher E. Kubasik (President) & (COO) Dr. Ray O Johnson (Senior Vice President) & (CTO) |
| Products | ATC systems Ballistic missiles Munitions NMD elements Transport aircraft Fighter aircraft Radar Satellite Atlas launch vehicles NASA's Orion spacecraft Hulc-Human exoskeleton |
| Revenue |  US$ 45.189 billion (2009)(58% > U.S. DoD 27% > U.S. Government 15% > International) (backlog of $80.9 billion) |
| Operating income | US$ 4.466 billion (2009) |
| Net income | US$ 3.024 billion (2009) |
| Total assets | US$ 35.111 billion (2009) |
| Total equity |  US$ 4.129 billion (2009) |
| Employees | 140,000 (2009) |
| Website | LockheedMartin.com |
Lockheed Martin (NYSE: LMT) is a United States aerospace, defense, security, and advanced technology company with worldwide interests. It was formed by the merger of Lockheed Corporation with Martin Marietta in March 1995. It is headquartered in Bethesda, Maryland, in the Washington Metropolitan Area. Lockheed Martin employs 140,000 people worldwide. Robert J. Stevens is the current Chairman, President, and Chief Executive Officer.
Lockheed Martin is among the very largest defense contractors in the world, and in 2008 70% of Lockheed Martin's revenues came from military sales.[1]
The company has received the Collier Trophy twice - in 2001 for being part of developing the X-35/F-35B LiftFan Propulsion System,[2][3][4] and again in 2006 for leading the team that developed the F-22 Raptor fighter jet.
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History
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.[5] The deal was finalized on March 15, 1995 when the two companies' shareholders approved the merger.[6] The segments of the two companies not retained by the new company formed the basis for the present L-3 Communications, a mid-size defense contractor in its own right.
Both companies contributed important products to the new portfolio. Lockheed products included the Trident missile, P-3 Orion, 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.
On April 22, 1996, Lockheed Martin completed the acquisition of Loral Corporation's defense electronics and system integration businesses for $9.1 billion, the deal having been announced in January. The remainder of Loral became Loral Space & Communications.[7]
Lockheed Martin abandoned plans for a $8.3 billion merger with Northrop Grumman on July 16, 1998, due to government concerns over the potential strength of the new group; Lockheed/Northrop would have had control of 25% of the Department of Defense's procurement budget.[8]
Lockheed Martin provided NASA with measurements in imperial force units when metric was required, resulting in the loss of the Mars Climate Orbiter at a cost of $125 million.[9][10]
In May 2000, Lockheed Martin sold Lockheed Martin Control Systems to BAE Systems. On November 27, 2000, Lockheed completed the sale of its Aerospace Electronic Systems business to BAE Systems for $1.67 billion, a deal announced in July 2000. This group encompassed Sanders Associates, Fairchild Systems, and Lockheed Martin Space Electronics & Communications.[11][12]
In 2001, Lockheed Martin won the contract to build the F-35 Lightning II; this was largest fighter aircraft procurement project since the F-16, with an initial order of 3,000 worth $200 billion before export orders.
In 2001, Lockheed Martin settled a nine year investigation conducted by NASA's Office of Inspector General with the assistance of the Defense Contract Audit Agency. The company paid the United States government $7.1 million based on allegations that its predecessor, Lockheed Engineering Science Corporation, submitted false lease costs claims to NASA.[13]
On May 12, 2006, The Washington Post reported that when Robert Stevens took control of Lockheed Martin in 2004, he faced the dilemma that within 10 years 100,000 of the about 130,000 Lockheed Martin employees - more than three-quarters - would be retiring.[14]
On August 31, 2006, Lockheed Martin won a $3.9 billion contract from NASA to design and build the CEV capsule, also known as Orion – the next spacecraft for human flight – for the Ares I rocket in the Constellation Program.
On August 13, 2008, Lockheed Martin acquired the government business unit of Nantero, Inc., a company that had developed methods and processes for incorporating carbon nanotubes in next-generation electronic devices.[15]
Organization
Aeronautics
- Lockheed Martin Aeronautics
- Lockheed Martin Aircraft and Logistics Centers
Electronic Systems
- Lockheed Martin Canada
- Lockheed Martin Mission Systems and Sensors
- Lockheed Martin Missiles and Fire Control
- Lockheed Martin Global Training and Logistics
- Lockheed Martin Systems Integration - Owego
- Lockheed Martin Advanced Technology Laboratories
- Sandia Corporation
Information Systems and Global Services
- Lockheed Martin IS&GS-Civil
- Lockheed Martin IS&GS-Defense
- Lockheed Martin IS&GS-Security
- Lockheed Martin IS&GS-Global
- Lockheed Martin IS&GS Readiness & Stability Operations
- Lockheed Martin IS&GS Enterprise Integration Group
- Lockheed Martin Orincon
- Lockheed Martin STASYS
- Lockheed Martin Technology Ventures
Space
- Lockheed Martin Space Systems
Others
- LMC Properties
- Lockheed Martin Aircraft Argentina SA (formerly Fabrica Militar de Aviones)
- Lockheed Martin Enterprise Business Services
- Lockheed Martin Finance Corporation
- Lockheed Martin U.K.
Joint ventures
- International Launch Services (with Khrunichev, RSC Energia)
- Lockheed Martin Alenia Tactical Transport Systems (with Finmeccanica-Alenia, now folded)
- MEADS International (with EADS and MBDA)
- Space Imaging (46%, remainder public)
- United Launch Alliance (with Boeing)
- United Space Alliance (with Boeing)
- Kelly Aviation Center (with GE and Rolls-Royce)
- Protector USV - an unmanned surface vehicle with Rafael Advanced Defense Systems and BAE Systems
- Defense Support Services (DS2) (with Day & Zimmermann) official site
Corporate governance
Current members of the board of directors of Lockheed Martin are: Edward Aldridge, Nolan Archibald, Marcus Bennett, James O. Ellis, Gwendolyn King, James Loy, Douglas McCorkindale, Eugene Murphy, Joseph Ralston, Frank Savage, Anne Stevens, Robert J. Stevens, James Ukropina and Douglas Yearley.
Lobbying
Lockheed Martin Employees Political Action Committee is one of the 50 most generous PACs in the country, according to FEC data. With contributions from 3,000 employees, it donates $500,000 a year to about 260 House and Senate candidates. For the 2004 election cycle, Lockheed's PAC has already contributed $350,279 to federal candidates, with about 62 percent going to Republicans, according to the Center for Responsive Politics. That compares with $515,000 from General Dynamics' political action committee and $122,850 from BAE Systems North America, the center's data showed.[16]
See also
- Defense contractor - table of comparable companies
- Lockheed Martin Maintenance Trophy
References
- ↑ Jackson, Susan T. et al The SIPRI Top 100 arms-producing companies, 2008 (short) (long) Stockholm International Peace Research Institute, 2009. Retrieved: 13 June 2010. Quote: "Arms sales are defined by SIPRI as sales of military goods and services to military customers, including both domestic and export sales. Military goods and services are those which are designed specifically for military purposes"
- ↑ Propulsion System in Lockheed Martin Joint Strike Fighter wins Collier Trophy Lockheed Martin press release, February 28, 2003. Retrieved: January 2010
- ↑ "Propulsion system for a vertical and short takeoff and landing aircraft", 1990 United States Patent 5209428 (PDF of original)
- ↑ Collier Trophy; list of winners. Retrieved January 2010
- ↑ Norris, Floyd (1994-08-31). "A 'merger of equals,' with Martin Marietta the most equal". The New York Times.
- ↑ "Martin Marietta-Lockheed merger is approved". The New York Times. 1995-03-16.
- ↑ Mintz, John (1996-04-23). "Lockheed-Martin Loral Merger May Mean a Loss of Business; McDonnell Douglas Threatens to Cancel Billions in Contracts". The Washington Post.
- ↑ Wayne, Leslie (1998-07-17). "Lockheed cancels Northrop merger, citing U.S. stand". The New York Times.
- ↑ "Metric mishap caused loss of NASA orbiter". CNN. 1999-09-30. http://www.cnn.com/TECH/space/9909/30/mars.metric.02/.
- ↑ "Math error equals loss of Mars orbiter". Science News. 1999-10-09. http://findarticles.com/p/articles/mi_m1200/is_15_156/ai_57155808/.
- ↑ "Contract for BAE". The Times (Times Newspapers). 2000-11-28.
- ↑ Parreault, Carl (2004-07-14). "British aerospace firm buys Sanders". The Union Leader.
- ↑ LOCKHEED MARTIN PAYS NASA $7.1 MILLION SETTLEMENT. U.S. Department of Justice, United States Attorney Press Rlease, July 10, 2003.
- ↑ Dutt, Jill. "Taking an Engineer's Approach at Lockheed Martin." Washington Post, May 1, 2006.
- ↑ "Lockheed Martin Acquires Nantero, Inc.'s Government Business Unit". Taume News. August 14, 2008. http://news.taume.com/World-Business/Business-Finance/Lockheed-Martin-Acquires-Nantero_-Inc__s-Government-Business-Unit-6439. Retrieved 2008-08-14.
- ↑ Lockheed Martin Employees PAC article
External links
- Lockheed Martin web site
- Santa Fe New Mexican article "Jury Awards Fired Sandia Analyst $4.3 Million"
- TIME Magazine article "A Security Analyst Wins Big in Court"
- Article on Lockheed Martin from the Center for Media and Democracy
- Washington Technology article "Lockheed loses Los Alamos outsourcing to U. of Calif"
- Washington Post article "Lockheed Wins Contract to Build NASA's New Spaceship"
- "Patents owned by Lockheed Martin". US Patent & Trademark Office. http://patft.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sect2=HITOFF&u=%2Fnetahtml%2Fsearch-adv.htm&r=0&p=1&f=S&l=50&Query=an%2F%22Lockheed+Martin%22&d=ptxt. Retrieved December 5, 2005.
- ABC News report "Jury Slaps Defense Giant for Neglecting National Security"
- Space.com article "Lockheed Martin Accepts Blame for Root Cause of Craft's Loss"
- CBS News article "NASA: Mars Surveyor Was Doomed By Humans"
- BBC News article "Lockheed Fined Over Secrets Breach"
- Washington Post article "Coast Guard Failed to Properly Oversee Contracts, Officials Say"
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