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Lockheed Martin Corporation is an American aerospace, defense, arms, security, and advanced technologies company with worldwide interests. It was formed by the merger of Lockheed Corporation with Martin Marietta in March 1995. It is headquartered in North Bethesda, Maryland, in the Washington, D.C., area. Lockheed Martin employs approximately 110,000 people worldwide as of January 2020.
Lockheed Martin is one of the largest companies in the aerospace, military support, security, and technologies industry. It is the world’s largest defense contractor, based on revenue for fiscal year 2014. In 2013, 78% of Lockheed Martin’s revenues came from military sales; it topped the list of US federal government contractors and received nearly 10% of the funds paid out by the Pentagon. In 2009, US government contracts accounted for $38.4 billion (85%), foreign government contracts for $5.8 billion (13%), and commercial and other contracts for $900 million (2%).
Half of the company’s annual sales are to the U.S. Department of Defense. Lockheed Martin is also a contractor for the U.S. Department of Energy and the National Aeronautics and Space Administration (NASA).
Lockheed Martin operates in four business segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space. 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 most recently in 2018 for the Automatic Ground Collision Avoidance System (Auto-GCAS). Lockheed Martin is currently developing the F-35 Lightning II 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.
About Lockheed Martin
Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 110,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.
As a global security and aerospace company, the majority of Lockheed Martin’s business is with the U.S. Department of Defense and U.S. federal government agencies. In addition, Sikorsky (a Lockheed Martin Company) provides military and rotary-wing aircraft to all five branches of the U.S. armed forces along with military services and commercial operators in 40 nations. The remaining portion of Lockheed Martin’s business is comprised of international government and commercial sales of products, services and platforms.