Lockheed Martin

The Lockheed Martin Corporation is a major American aerospace and defense manufacturer.

Headquartered in North Bethesda, Maryland, the company serves many government agencies. It is the top contractor for the United States federal government. It has held this position since at least 2008. Much of its business comes from the federal government. In 2024, 73% of its revenue was from federal sources. Within that, 65% came specifically from the Department of Defense.

To manage its vast operations, the company is organized into four distinct divisions. Lockheed Martin Aeronautics is the largest, providing 39% of 2024 revenues. Lockheed Martin Rotary and Mission Systems follows, accounting for 24% of revenue. The remaining work is split between Missiles and Fire Control and Lockheed Martin Space. Each division handles specific types of technology. For example, the F-35 fighter jet is a major product. Sales of this single aircraft accounted for 26% of the company's 2024 revenue.

The company was created through a massive merger of two older firms. Lockheed Corporation and Martin Marietta began merger talks in March 1994. They announced a planned $10 billion merger on August 30, 1994. The merger was finalized on March 15, 1995, after shareholder approval. The combined company established its headquarters at the Martin Marietta site in Maryland. Some parts of the original companies were not included in the merger. These parts formed the basis for a new company called L-3 Communications. The company also later spun off Martin Marietta Materials.

Lockheed Martin has a long history of developing advanced technology. Before the merger, Lockheed produced the U-2, SR-71 Blackbird, and F-16 Fighting Falcon. Martin Marietta contributed products like the Titan rockets and Viking landers. Today, the company leads the international supply chain for the F-35. It is also the primary contractor for NASA's Orion command module. The company is currently developing technology for the USAF Space Fence. Their engineering excellence has earned them the Collier Trophy six times. Notable wins include 2001 for the X-35/F-35B LiftFan system and 2018 for the Auto-GCAS.

Despite its successes, the company has faced technical and legal challenges. In 1999, the Mars Climate Orbiter was lost due to a software error. Lockheed Martin provided data using US Customary units instead of metric units. This error cost $125 million, while development had cost $193 million. The company has also dealt with various legal settlements. In 2001, it paid $7.1 million to settle NASA investigation claims. In 2011, it paid $2 million regarding a contract with the Naval Oceanographic Office. In 2012, it settled allegations regarding overpriced tools used on government contracts.

The company also manages complex human and security issues. In 2003, a tragic shooting occurred at a plant in Mississippi. An assembly line worker killed six co-workers and wounded eight others. In 2004, new leadership faced a massive demographic shift. About 75% of the 130,000 employees were expected to retire within ten years. The company also deals with modern digital threats. In 2011, a cyberattack breached sensitive materials at the company. This event occurred around the time the U.S. military updated its strategy regarding cyber warfare.

Beyond defense, Lockheed Martin invests in several scientific fields. They fund research into renewable energy systems and intelligent energy distribution. They are also involved in compact nuclear fusion technology. In the 1990s, they even worked on consumer technology. They developed graphics systems and texture mapping chips for Sega arcade games. This shows how their engineering applies to many different sectors. They continue to expand through acquisitions, such as the 2007 purchase of 3Dsolve. These efforts allow them to work in both defense and non-defense markets.