Lockheed Martin (NYSE: LMT) is an American global aerospace, defense,
security, and advanced technology company with worldwide interests. It
was formed by the merger of Lockheed Corporation with Martin Marietta in
March 1995. It is headquartered in Bethesda, Maryland, in the Washington
Metropolitan Area. Lockheed Martin employs 123,000 people worldwide.
Robert J. Stevens is the current Chairman and Chief Executive Officer.
Lockheed Martin is one of the world's largest defense contractors; In
2009, 74% of Lockheed Martin's revenues came from military sales. It
received 7.1% of the funds paid out by the Pentagon. Lockheed Martin
operates in four business segments. These comprise, with respective
percentages of 2009 total net sales of $45.2 billion, Aeronautics (27%),
Electronic Systems (27%), Information Systems & Global Solutions (27%),
and Space Systems (19%). In 2009 US Government contracts accounted for
$38.4 billion (85%), foreign government contracts $5.8 billion (13%),
and commercial and other contracts for $900 million (2%). In both 2009
and 2008 the company topped the list of US Federal Contractors. The
company has received the Collier Trophy six times. Most recently (in
2001) for being part of developing the X-35/F-35B LiftFan Propulsion
System, and again in 2006 for leading the team that developed the F-22
Raptor fighter jet. Lockheed Martin is currently developing the F-35
Lightning II. Merger talks between Lockheed Corporation and Martin
Marietta began in March 1994, with the companies announcing their $10
billion planned merger on August 30, 1994. The deal was finalized on
March 15, 1995 when the two companies' shareholders approved the merger.
The segments of the two companies not retained by the new company formed
the basis for the present L-3 Communications, a mid-size defense
contractor in its own right. Lockheed Martin later spun off the
materials company Martin Marietta Materials. Both companies contributed
important products to the new portfolio.
