Lockheed Martin

Lockheed Martin is the top defense contractor in the world. It is primarily an aerospace manufacturer, focusing on military and space aircraft, and performs 95% of its business with the U.S. Department of Defense. Lockheed Martin has developed numerous military technologies, including various missile and satellite systems, and military aircraft including the F-22 and F-35 series of fighter jets.

Fast Facts

1. Stock symbol: LMT (NYSE)
2. Annual revenue (2007): $41.9 billion
3. Year established: 1995
4. Product of the merger between Lockheed Corporation and Martin Marietta
5. Industry: Aerospace and defense manufacturing
6. Phone: 301-897-6000
7. Fax: 301-897-6919
8. HQ: Bethesda, Maryland
9. President/CEO: Robert J. Stevens
10. CFO: Bruce L. Tanner
11. Staff: 140,000
12. President & CEO: Mr. Robert J. Stevens

Key Dates

1. 1912: The Lockheed Corporation is founded
2. 1961: Industrial conglomerate Martin Marietta is founded
3. August 30, 1994: $10 billion merger between Lockheed and Martin Marietta is announced
4. March 15, 1995: Merger officially finalized
5. July 16, 1998: Planned merger with Northrop Grumman is abandoned due to governmental concerns over potential company size
6. September, 1999: Accepts blame for the Mars Climate Orbiter crash, which was due to being programmed for English, rather than metric, units
7. 2001: Wins contract to bild the F-35 Lightning fighter jet
8. August 31, 2006: Wins $3.9 billion contract from NASA to design and build the Orion, a human-operated spacecraft
9. March 28, 2008: Closes a $766 million contract to redesign and build U.S. military radio systems.

Categories