Lockheed Martin

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**Lockheed Martin**

Type	Public (NYSE: LMT)
Founded	1912 (in 1995, company took on current name)
Location	HQ in Bethesda, Maryland; locations in 45 U.S. states and 56 countries
Key people	Robert J. Stevens: President and CEO
Industry	Aerospace and defense
Products	ATC systems, ballistic missiles, munitions, NMD elements, transport aircraft, fighter aircraft, radar, satellites, Atlas launch vehicles, Titan launch vehicles, numerous others
Revenue	$35.526 billion USD (2004)
Employees	130,000+
Website	www.lockheedmartin.com

Lockheed Martin NYSE: LMT is an aerospace manufacturer 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 130,000 people worldwide. Robert J. Stevens is the current CEO.

Lockheed Martin is the largest defense contractor in the world[1]. 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.

1 History
2 Corporate governance
3 Divisions
4 See also
5 External links

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History

Shortly after the creation of the company Lockheed Martin acquired the majority of Loral Corporation's defense electronics and system integration businesses for $9.1 billion. The remainder of Loral became Loral Space & Communications.

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 AsiaSat, a major shareholder of which is the Chinese government.

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.

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/A-22
- C-130 Hercules
- 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)
- Satellites
  - A2100
  - Martin Marietta 3000
  - Martin Marietta 4000
  - Martin Marietta 8000
  - Tiros-N meteorological satellites