Lockheed Martin

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Lockheed Martin
Type	Public (NYSE: LMT)
Founded	1912 (in 1995, company took on current name)
Headquarters	HQ in Bethesda, Maryland; locations in 45 U.S. states and 56 countries
Key people	Robert J. Stevens: Chairman, President, and CEO
Industry	Aerospace and defense
Products	ATC systems, ballistic missiles, munitions, NMD elements, transport aircraft, fighter aircraft, radar, satellites, Atlas launch vehicles, NASA's Orion spacecraft, numerous others
Revenue	$37.213 billion USD (2005), and a backlog of $74.825 billion USD.
Employees	135,000+
Slogan	"We never forget who we're working for"
Website	www.lockheedmartin.com

Lockheed Martin (NYSE: LMT) is a leading aerospace manufacturer and advanced technology company 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 140,000 people worldwide. Robert J. Stevens is the current Chairman, President, and CEO.

Lockheed Martin is the world's largest defense contractor (by defense revenue).^[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.

A team led by prime contractor Lockheed Martin won the 2006 Collier Trophy for the development of the F-22 Raptor fighter jet.

[edit] History

Lockheed Martin was formed by a "merger of equals", both companies contributing important products to the new portfolio. Lockheed products included the Trident missile, P-3 Orion, F-16 Fighting Falcon (the production line being purchased from General Dynamics in 1993), F-22 Raptor, C-130 Hercules, A-4AR Fightinghawk and the DSCS-3 satellite. Martin Marietta products included Titan rockets, Sandia National Laboratories (management contract acquired in 1993), Space Shuttle External Tank, Viking 1 and Viking 2 landers, the Transfer Orbit Stage (under subcontract to Orbital Sciences Corporation) and various satellite models.

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 concerns over 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 U.S. government for breaching the arms export control act. The company passed information to AsiaSat, a major shareholder of which is the Chinese government. In May 2000 Lockheed Martin sold Lockheed Martin Control Systems to BAE Systems. In November 2000 Lockheed completed the sale of its Aerospace Electronic Systems business to BAE Systems for $1.67 billion USD. This group encompassed Sanders, Fairchild Systems and Lockheed Martin Space Electronics & Communications.

In 2001 Lockheed Martin won the contract to build the Joint Strike Fighter. 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.

In May 2006 it was reported in the Washington Post that when Robert Stevens took control of Lockheed Martin in 2004, he faced the dilemma that within 10 years 100,000 of the about 130,000 Lockheed Martin employees would be retiring.^[2]

In 2006, Lockheed Corporation won a 3.9 billion dollar contract from NASA on August 31 to design and build the nation’s next spaceship for human flight, a craft called Orion.

C-130 Hercules; in production since the 1950s, now as the C-130J

On December 1, 2006 all of Lockheed Martin's commercial launch operations were transferred to the United Launch Alliance (ULA). This is a joint venture between Lockheed Martin and Boeing, first announced May 2, 2005.

On February 13, 2007 a New Mexico State Court found Sandia Corporation, a wholly owned subsidiary of Lockheed Martin, liable for $4.7 million in damages for the firing of a former network security analyst, Shawn Carpenter. Mr. Carpenter had reported to his supervisors that hundreds of military installations and defense contractors' networks were compromised and sensitive information was being stolen -- including hundreds of sensitive Lockheed documents on the Mars Reconnaissance Orbiter project. When his supervisors told him to drop the investigation and do nothing with the information, he went to intelligence officials in the United States Army and later the FBI to address the national security breaches. When Sandia Corporation management discovered his actions months later, they revoked his security clearance and fired him.

[edit] Corporate governance

Current members of the board of directors of Lockheed Martin are: Edward Aldridge, Nolan Archibald, Marcus Bennett, James O. Ellis, Gwendolyn King, James Loy, Douglas McCorkindale, Eugene Murphy, Joseph Ralston, Frank Savage, Anne Stevens, Robert J. Stevens, James Ukropina, and Douglas Yearley.

[edit] Divisions

[edit] Aeronautics

• Lockheed Martin Aeronautics
• Lockheed Martin Aircraft & Logistics Centers

Lockheed Martin/BAE/Northrop Grumman X-35 (F-35 Prototype)

Submarine launch of a Lockheed Trident missile

[edit] Electronic Systems

• Lockheed Martin Canada
• Lockheed Martin Maritime Systems & Sensors
• Lockheed Martin Missiles & Fire Control
• Lockheed Martin Simulation, Training & Support
• Lockheed Martin Systems Integration - Owego
• Lockheed Martin Advanced Technology Labs
• Sandia Corporation

[edit] Information Systems & Global Services

• Knolls Atomic Power Laboratory
• Lockheed Martin Information Technology
• Lockheed Martin Integrated Systems & Solutions
  • Lockheed Martin Orincon
  • Lockheed Martin STASYS
• Lockheed Martin Technology Ventures
• Lockheed Martin Transportation & Security Solutions

[edit] Space Systems

• Lockheed Martin Space Systems

[edit] Others

• LMC Properties
• Lockheed Martin Aircraft Argentina SA (formerly Fabrica Militar de Aviones)
• Lockheed Martin Advanced Technologies Laboratory (ATL)
• Lockheed Martin Enterprise Information Systems
• Lockheed Martin Finance Corporation
• Lockheed Martin U.K.

[edit] Joint Ventures

• International Launch Services (with Khrunichev, RSC Energia)
• Lockheed Martin Alenia Tactical Transport Systems (with Finmeccanica-Alenia, now folded)
• MEADS International (with EADS and MBDA)
• Space Imaging (46%, remainder public)
• United Launch Alliance (with Boeing, subject to US Government approval as of 01/2006)
• United Space Alliance (with Boeing)
• Kelly Aviation Center (with GE and Rolls-Royce)

[edit] Facts

• Lockheed's 'conventional' Hellfire missiles were widely used in the invasion of Iraq.
• The firm's name, "Lockheed Martin," is sometimes colloquially abbreviated as "LockMart".[2]
• Lockheed Martin sponsors the Lockheed Martin Maintenance Trophy which is an annual competition that runs in parallel with the Fincastle competition in which groundcrews of the P-3 Orion and the Nimrod MR2 take part in various tasks and exercises to see who comes out on top.
• The song "Do You Like Me" by Post-hardcore band Fugazi uses the company's name in a refrain. The song was recorded in 1995, the same year that Lockheed and Martin Marietta merged.
• The company's 3D-generating technology, Real3D, was used in conjunction with game design studio AM2 to create the first three arcade games in the Sega fighting game series Virtua Fighter.

[edit] References

[edit] See also

• Titan Rain
• Sandia Corporation
• Shawn Carpenter

[edit] External links

• Lockheed Martin website
• Santa Fe New Mexican article "Jury Awards Fired Sandia Analyst $4.3 Million"
• TIME Magazine article "A Security Analyst Wins Big in Court"
• Article on Lockheed Martin from the Center for Media and Democracy
• Washington Technology article "Lockheed loses Los Alamos outsourcing to U. of Calif"
• Washington Post article "Lockheed Wins Contract to Build NASA's New Spaceship"
• Patents owned by Lockheed Martin. US Patent & Trademark Office. Retrieved on December 5, 2005.