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 various missile and satellite systems, and military aircraft including the F-22 and F-35 series of fighter jets.

On June 15, 2009, Lockheed notified 535 of its employees in San Jose, CA that they would be laid-off come August. The employees affected were working on a classified military satellite project. The reason given for the layoffs was that the project had "changed in scope."http://abclocal.go.com/kfsn/story?section=news/business&id=6866799

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.
10. April 6, 2009: Secretary of Defense Robert Gates announces end of F-22 program, and increase in government support for F-35.Bloomberg: Lockheed, Defense Shares Rise as Gates Shifts Pentagon Plans (April 6, 2009)

• Boeing: Official Site | Hoovers

• Northrop Grumman: Official Site | Hoovers

• Airbus: Official Site | Hoovers

• General Dynamics: Official Site | Hoovers

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