Lockheed Martin

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Lockheed Martin (NYSE: [LMT]) is a leading aerospace manufacturer and advanced technology company formed in 1995 by the merger of Lockheed Corporation with Martin Marietta. It is headquartered in Bethesda, Maryland, a community in Montgomery County, Maryland, and employs 135,000 people worldwide. Robert J. Stevens is the current Chairman, President, and CEO.

Lockheed Martin is the world's largest defense contractor (by defense revenue)."[Defense News Top 100]." Defense News. As of 2005, 95% of Lockheed Martin's revenues came from the U.S. Department of Defense, other U.S. federal government agencies, and foreign military customers.

History

In 1998, Lockheed Martin abandoned plans to merge with Northrop Grumman due to government fears of the potential strength of the new group (Lockheed/Northrop would have had control of 25% of the DoD's procurement budget).

In 2000, Lockheed agreed to pay a $13 million settlement to the US government for breaching the arms export control act. The company passed information to , a major shareholder of which is the Chinese government. In November 2000 Lockheed completed the sale of its Aerospace Electronic Systems business to BAE Systems for $1.67 billion USD.

Lockheed Martin/BAE/Northrop Grumman X-35 (F-35 Prototype)

Lockheed Martin won the contract to build the Joint Strike Fighter in 2001 with its X-35 design. This is the most important fighter aircraft procurement project since the F-16, with an initial order of 3,000 worth $200 billion before export orders.

In 2003, Lockheed Martin benefited from a USAF decision to punish Boeing for conducting industrial espionage against its rival. The USAF revoked $1 billion worth of contracts from Boeing and awarded them to Lockheed Martin. The company sued Boeing in 1998 for stealing documents related to a military contract.

It was recently reported in the Washington Post that when Robert Stevens took control of Lockheed Martin in 2004, that he faced the dilemma that within 10 years 100,000 of the about 130,000 Lockheed Martin employees would be retiring.

Lockheed Martin was formed by a "merger of equals". Below are examples of the products each company contributed to the current portfolio:

Lockheed

• Trident missile
• F-16 Fighting Falcon (production line purchased from General Dynamics in 1993)
• F-22 Raptor
• F-35 Lightning II
• C-130 Hercules
• A-4AR Fightinghawk
• DSCS-3 satellite

C-130 Hercules; in production since the 1950s, now as the C-130J

Martin Marietta

• Titan rockets
• Sandia National Laboratories (management contract acquired in 1993)
• Space Shuttle External Tank
• Viking 1 and Viking 2 landers
• Transfer Orbit Stage (under subcontract to Orbital Sciences Corporation)

Satellites

• A2100
• Martin Marietta 3000
• Martin Marietta 4000
• Martin Marietta 7000
• Tiros-N meteorological satellites
• Vinasat 1 (making is in progress)

Corporate governance

Divisions

Aeronautics

• Lockheed Martin Aeronautics

Lockheed Trident missile

Electronic Systems

• Lockheed Martin Canada
• Lockheed Martin Maritime Systems & Sensors
• Lockheed Martin Missiles & Fire Control
• Lockheed Martin Simulation, Training & Support
• Lockheed Martin Systems Integration - Owego
• Lockheed Martin Transportation & Security Solutions

Information & Technology Services

• Sandia Corporation
• Knolls Atomic Power Laboratory
• Lockheed Martin Advanced Technologies Laboratory (ATL)
• Lockheed Martin Aircraft & Logistics Centers
• Lockheed Martin Aircraft Argentina SA (formerly Fabrica Militar de Aviones)
• Lockheed Martin Information Technology
• Lockheed Martin Space Operations
• Lockheed Martin Systems Management
• Lockheed Martin Technical Operations
• Lockheed Martin Technology Ventures

Integrated Systems & Solutions

• Lockheed Martin Integrated Systems & Solutions
• *Lockheed Martin Orincon
• *Lockheed Martin STASYS

Space Systems

• Lockheed Martin Space Systems

Others

• LMC Properties
• Lockheed Martin Enterprise Information Systems
• 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, subject to US Government approval as of 01/2006)
• United Space Alliance (with Boeing)
• Kelly Aviation Center (with GE and Rolls-Royce)

Facts

• The firm's name, "Lockheed Martin," is sometimes colloquially abbreviated as "LockMart".[link]

References

See also

• Titan Rain

External links

• [Lockheed Martin website]
• [Article on Lockheed Martin] from the Center for Media and Democracy

| Airlines | Air forces | Aircraft weapons | Missiles | Timeline of aviation

Companies, Partnerships, and Facilities: Air Dock | International Launch Services | Knolls Atomic Power Laboratory | LM Aeronautics | LM Information Technology | LM Missiles and Fire Control | Orincon | LM Simulation, Training & Support | LM Space Applications Laboratory | LM Space Systems | LM Transportation & SecuritySolutions | LM UK | Michoud Assembly Facility | Sandia National Laboratories | Savi Technology | Skunk Works | United Space Alliance | United Launch Alliance Active Products: Aegis | Asroc | ATACMS | Atlas rocket | C-5 | C-130 | External Fuel Tank | Force Hawk | F-16 | F-22 | F-35 | JASSM | Javelin | Hellfire | HIMARS | MEADS | Milstar | MLRS | MUOS | Nimiq | P-3 | Predator missile | SBIRS | THAAD | Sniper XR | Stealth Fighter | T-50 | Trident missile | VH-71/US101 | U-2

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