Jump to content

Lockheed Martin

From Wikipedia, the free encyclopedia
(Redirected from Lockheed martin)
This article is about the company. For the transit center in Sunnyvale, California, see Lockheed Martin Transit Center.

Lockheed Martin Corporation
Company typePublic
IndustryAerospace, Defense
Predecessors
FoundedMarch 15, 1995; 29 years ago (1995-03-15)
HeadquartersBethesda, Maryland, United States
Area served
Worldwide
Key people
James D. Taiclet (Chair, President & CEO)
RevenueIncrease US$67.6 billion (2023)
Increase US$8.51 billion (2023)
Increase US$6.92 billion (2023)
Total assetsDecrease US$52.5 billion (2023)
Total equityDecrease US$6.84 billion (2023)
Number of employees
122,000 (2023)
Divisions
Websitelockheedmartin.com
Footnotes / references
[1][2]

The Lockheed Martin Corporation is an American defense and aerospace manufacturer with worldwide interests. It was formed by the merger of Lockheed Corporation with Martin Marietta in March 1995. It is headquartered in North Bethesda, Maryland. As of January 2022, Lockheed Martin employs approximately 115,000 employees worldwide, including about 60,000 engineers and scientists.[3] Reports from 2024 estimate that Lockheed Martin Corporation (LMT) holds a market cap of around $139.7 billion.[4]

Lockheed Martin is one of the largest companies in the aerospace, military support, security, and technologies industry. It was the world's largest defense contractor by revenue for fiscal year 2014.[5] In 2013, 78% of Lockheed Martin's revenues came from military sales;[6] it topped the list of US federal government contractors and received nearly 10% of the funds paid out by the Pentagon.[7] In 2009, US government contracts accounted for $38.4 billion (85%), foreign government contracts for $5.8 billion (13%), and commercial and other contracts for $900 million (2%).[8] Half of the corporation's annual sales are to the U.S. Department of Defense. Lockheed Martin is also a contractor for the U.S. Department of Energy and the National Aeronautics and Space Administration (NASA).[9]

Lockheed Martin operates in four business segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.[10] The company has received the Collier Trophy six times, including in 2001 for being part of developing the X-35/F-35B LiftFan Propulsion System[11][12][13] and most recently in 2018 for the Automatic Ground Collision Avoidance System (Auto-GCAS). Lockheed Martin is currently developing the F-35 Lightning II and leads the international supply chain, leads the team for the development and implementation of technology solutions for the new USAF Space Fence (AFSSS replacement),[14] and is the primary contractor for the development of the Orion command module.[15] The company also invests in healthcare systems, renewable energy systems, intelligent energy distribution, and compact nuclear fusion.[16]

History

[edit]

1990s

[edit]

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.[17][18] The headquarters for the combined companies would be at Martin Marietta headquarters in North Bethesda, Maryland.[19] The deal was finalized on March 15, 1995, when the two companies' shareholders approved the merger.[20] The segments of the two companies not retained by the new company formed the basis for L-3 Communications, a mid-size defense contractor in its own right. Lockheed Martin also later spun off the materials company Martin Marietta Materials.[citation needed]

The company's executives received large bonuses directly from the government as a result of the merger. Norman R. Augustine, who was at the time CEO of Martin Marietta, received an $8.2 million bonus.[21]

Both companies contributed important products to the new portfolio.[citation needed] Lockheed products included the Trident missile, P-3 Orion maritime patrol aircraft, U-2 and SR-71 Blackbird reconnaissance airplanes, F-117 Nighthawk, F-16 Fighting Falcon, 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.[citation needed]

On April 22, 1996, Lockheed Martin completed the acquisition of Loral Corporation's defense electronics and system integration businesses for $9.1 billion, the deal having been announced in January. The remainder of Loral became Loral Space & Communications.[22] Lockheed Martin abandoned plans for an $8.3 billion merger with Northrop Grumman on July 16, 1998, due to government concerns over the potential strength of the new group; Lockheed/Northrop would have had control of 25% of the Department of Defense's procurement budget.[23]

For the Mars Climate Orbiter, Lockheed Martin incorrectly provided NASA with software using measurements in US Customary force units when metric units were expected; this resulted in the loss of the Orbiter at a cost of $125 million.[24][25] The development of the spacecraft cost $193 million.[26][27]

In addition to their military products, in the 1990s Lockheed Martin developed the texture mapping chip for the Sega Model 2 arcade system board and the entire graphics system for the Sega Model 3, which were used to power some of the most popular arcade games of the time.[28]

2000s

[edit]
Lockheed Martin's prior Center For Leadership Excellence (CLE) Building, which was located near its corporate headquarters

In May 2001, Lockheed Martin sold Lockheed Martin Control Systems to BAE Systems.[29] On November 27, 2000, Lockheed completed the sale of its Aerospace Electronic Systems business to BAE Systems for $1.67 billion, a deal announced in July 2000. This group encompassed Sanders Associates, Fairchild Systems, and Lockheed Martin Space Electronics & Communications.[30][31] In 2001, Lockheed Martin won the contract to build the F-35 Lightning II; this was the largest fighter aircraft procurement project since the F-16, with an initial order of 3,000 aircraft. In 2001, Lockheed Martin settled a nine–year investigation conducted by NASA's Office of Inspector General with the assistance of the Defense Contract Audit Agency. The company paid the United States government $7.1 million based on allegations that its predecessor, Lockheed Engineering Science Corporation, submitted false lease costs claims to NASA.[32]

On May 12, 2006, The Washington Post reported 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 – more than three-quarters – would be retiring.[33] On August 31, 2006, Lockheed Martin won a $3.9 billion contract from NASA to design and build the CEV capsule, later named Orion for the Ares I rocket in the Constellation Program. In 2009, NASA reduced the capsule crew requirements from the initial six seats to four for transport to the International Space Station.[34]

In August 2007, Lockheed Martin acquired 3Dsolve, a Cary, North Carolina, company that created simulations and training modules for the military and corporate clients.[35] Renamed Lockheed Martin 3D Learning Systems, the company remained in Cary with 3D's founder Richard Boyd as director.[36] The name was eventually shortened to Lockheed Martin 3D Solutions.[37]

On August 13, 2008, Lockheed Martin acquired the government business unit of Nantero, Inc., a company that had developed methods and processes for incorporating carbon nanotubes in next-generation electronic devices.[38][39] In 2009, Lockheed Martin bought Unitech.[40]

2010s

[edit]

On November 18, 2010, Lockheed Martin announced that it would be closing its Eagan, Minnesota, location by 2013 to reduce costs and optimize capacity at its locations nationwide.[41] In January 2011, Lockheed Martin agreed to pay the U.S. Government $2 million to settle allegations that the company submitted false claims on a U.S. government contract for that amount. The allegations came from a contract with the Naval Oceanographic Office Major Shared Resource Center in Mississippi.[42]

On May 25, 2011, Lockheed Martin bought the first Quantum Computing System from D-Wave Systems. Lockheed Martin and D-Wave will collaborate to realize the benefits of a computing platform based upon a quantum annealing processor, as applied to some of Lockheed Martin's most challenging computation problems. Lockheed Martin established a multi-year contract that includes one system, maintenance, and services, and represents a potentially important milestone for both companies.[43]

On May 28, 2011, it was reported that a cyberattack using previously stolen EMC files had broken through to sensitive materials at the contractor.[44] It is unclear if the Lockheed incident is the specific prompt whereby on June 1, 2011, the new United States military strategy, makes explicit that a cyberattack is casus belli for a traditional act of war.[45]

On July 10, 2012, Lockheed Martin announced it was cutting its workforce by 740 workers to reduce costs and remain competitive as necessary for future growth.[46] On November 27, 2012, Lockheed Martin announced that Marillyn Hewson would become the corporation's chief executive officer on January 1, 2013.[47]

On January 7, 2013, Lockheed Martin Canada announced that it would be acquiring the engine maintenance, repair, and overhaul assets from Aveos Fleet Performance in Montreal, Quebec, Canada. On July 3, 2013, Lockheed Martin announced that it was partnering with DreamHammer to use the company's software for integrated command and control of its unmanned aerial vehicles.[48] Lockheed Martin teamed up with Bell Helicopter to propose the V-280 Valor tiltrotor for the Future Vertical Lift (FVL) program.[49] In September 2013, Lockheed Martin acquired the Scotland-based tech firm, Amor Group, saying the deal would aid its plans to expand internationally and into non-defense markets.[50] On November 14, 2013, Lockheed announced they would be closing their Akron, Ohio facility laying off 500 employees and transferring other employees to other locations.[51]

Lockheed Martin's F-35 Lightning II

In March 2014, Lockheed Martin acquired Beontra AG, a provider of integrated planning and demand forecasting tools for airport, planning to expand their business in commercial airport information technology solutions.[52] Also, in March 2014, Lockheed Martin announced its acquisition of Industrial Defender Inc.[53] On June 2, 2014, Lockheed Martin received a Pentagon contract to build a space fence that would track debris, keeping it from damaging satellites and spacecraft.[54]

On July 20, 2015, Lockheed Martin announced plans to purchase Sikorsky Aircraft from United Technologies Corporation at a cost of $7.1 billion.[55][56] The Pentagon has criticized the acquisition as causing a reduction in competition.[57] In November 2015, the acquisition received final approval from the Chinese government,[58] with a total cost of $9 billion.[59] Dan Schulz was named the president of Lockheed Martin's Sikorsky company.[60] Lockheed Martin has shown[when?] sketches for a twin-engine, blended wing body strategic airlifter similar in size to the C-5.[61] On March 31, 2015, the US Navy awarded Lockheed Martin a contract worth $362 million for the construction of Freedom-class ship LCS 21 and $79 million for advance procurement for LCS 23. The Freedom-class ships are built by Fincantieri Marinette Marine in Marinette, Wisconsin.[62] In December 2015, Lockheed won an $867 million seven-year contract to train Australia's next generation of military pilots. The deal also has the option to extend this contract across 26 years, which would greatly increase the deal's value.[63]

In August 2016, Canadian Forces Maritime tested an integrated submarine combat system developed by Lockheed Martin. The test marked Canada's first use of the combat system with the MK 48 heavyweight torpedo, variant 7AT.[64] The same month, a deal to merge Leidos with the entirety of Lockheed Martin's Information Systems & Global Solutions (IS&GS) business came to a close.[65][66]

In May 2017, during a visit to Saudi Arabia by President Donald Trump, Saudi Arabia signed business deals worth tens of billions of dollars with U.S. companies, including Lockheed Martin.[67] (See: 2017 United States–Saudi Arabia arms deal)

On August 13, 2018, Lockheed Martin announced that the company had secured a $480 million contract from the United States Air Force to develop a hypersonic weapon prototype. A hypersonic missile can travel at one mile a second. This is the second contract for hypersonic weapons that Martin has secured; The first was from the Air Force as well and for $928 million which was announced in April 2018.[68][69]

On November 29, 2018, Lockheed Martin was awarded a Commercial Lunar Payload Services contract by NASA, which makes it eligible to bid on delivering science and technology payloads to the Moon for NASA, worth $2.6 billion.[70] Lockheed Martin plans to formally propose a lander called McCandless Lunar Lander, named after the late astronaut and former Lockheed Martin employee Bruce McCandless II, who in 1984 performed the first free-flying spacewalk without a lifeline to the orbiting shuttle, using a jetpack built by the company.[71] This lander would be based on the successful design of the Phoenix and InSight Mars landers.[72]

On April 11, 2019, at 6:35 pm EDT, an Arabsat-6A satellite was successfully launched from (LC-39A). This satellite is one of two, the other being SaudiGeoSat-1/HellasSat-4 and they are the "most advanced commercial communications satellites ever built by" Lockheed Martin.[73]

On September 23, 2019, Lockheed Martin and NASA signed a $4.6-billion contract to build six or more Orion capsules for NASA's Artemis program to send astronauts to the Moon.[74]

2020s

[edit]

In January 2020, the Naval Sea Systems Command awarded Lockheed Martin with a $138 million contract related with the AEGIS Combat System Engineering Agent (CSEA). The LMT Rotary and Mission Systems (RMS) unit of the company is to develop, integrate, test, and deliver the AEGIS Advanced Capability Build (ACB) 20 integrated combat system. Martin will work on the AEGIS in New Jersey. The project is expected to be completed by December 2020.[75]

In January 2020, the Pentagon found at least 800 software defects in Lockheed Martin's F-35 fighter jets owned by the US Armed Forces during an annual review. The 2018 and 2019 reviews revealed a large number of defects as well.[76]

In February 2020, Lockheed Martin acquired Vector Launch Inc's satellite software technology GalacticSky for $4.25 million after a bankruptcy court received no bids by the February 21 deadline.[77][78]

President Joe Biden at the Lockheed Martin Facility in Troy, Alabama, May 3, 2022

On March 16, 2020, Lockheed Martin announced that James D. Taiclet would replace Marillyn Hewson as CEO, effective June 15.[79] In January of 2021, Taiclet became chairman of the company as well.[80]

On December 20, 2020, it was announced that Lockheed Martin would acquire Aerojet Rocketdyne Holdings for $4.4 billion.[81] The acquisition was expected to close in first quarter of 2022.[82] On February 13, 2022, Lockheed abandoned the deal following regulatory disapproval.[83][84]

In 2022, during the Russian invasion of Ukraine, major arms manufacturers, including Lockheed Martin,[85] reported a sharp increase in interim sales and profits.[86][87][88]

In May 2023, Lockheed formed a new microelectronics subsidiary ForwardEdge ASIC to design custom application-specific integrated circuits for its customers.[89][90]

In November 2023, attempts at Direct action were taken against arms companies in the United States and the United Kingdom, including Lockheed Martin,[91][92] that supplied weapons to Israel during the 2023 Israel–Hamas war.[93]

In March 2024, Lockheed Martin submitted a bid to acquire Terran Orbital.[94]

On June 28, 2024, the U.S. Army awarded Lockheed Martin a $4.5 billion contract to supply Patriot Advanced Capability-3 (PAC-3) missiles. The contract included 870 PAC-3 MSE missiles and related hardware. Lockheed was tasked with manufacturing the newest version of these interceptors, with each PAC-3 MSE missile costing approximately $4 million, as per Army budget documents.[95]

On October 9, 2024, Lockheed Martin announced the appointment of Chauncey McIntosh as vice president and general manager of the F-35 Lightning II Program, effective December 1, 2024. He succeeded Bridget Lauderdale, who retired after 38 years with the company.[96]

Finances

[edit]
Sales by business (2023)[97]
Business share
Aeronautics 40.7%
Rotary and Mission Systems 24.0%
Space 18.7%
Missiles and Fire Control 16.7%

For the fiscal year 2020, Lockheed Martin reported earnings of $6.833 billion, with an annual revenue of $65.398 billion, an increase of 9.3% over the previous year.[citation needed] Backlog was 144.0 billion at the end of 2019, up from 130.5 billion at the end of the 2018. Firm orders were $94.5 billion at the end of 2019.[98] Its shares traded at over $389 per share.[99] Its market capitalization was valued at US$109.83 billion at the end of 2019.[100] Lockheed Martin ranked No. 60 in the 2019 Fortune 500 list of the largest United States corporations by total revenue (down from No. 59 in 2018).[101]

Sales by region (2023)[97]
Region share
United States 73.9%
Europe 10.4%
Asia Pacific 8.7%
Middle East 5.3%
Other 1.8%
Year Revenue
in mil. US$ 		Net income
in mil. US$ 		Total Assets
in mil. US$ 		Price per Share
in US$ 		Employees
2005[102] 37,213 1,825 27,744 41.78
2006[103] 39,620 2,529 28,231 54.52
2007[104] 41,862 3,033 28,926 70.93
2008[105] 41,372 3,217 33,439 71.54
2009[106] 43,867 2,973 35,111 55.94
2010[107] 45,671 2,878 35,113 57.35
2011[108] 46,499 2,655 37,908 60.85
2012[109] 47,182 2,745 38,657 73.10
2013[110] 45,358 2,981 36,188 97.53 115,000
2014[111] 39,946 3,614 37,046 151.21 112,000
2015[112] 40,536 3,605 49,304 187.00 126,000
2016[113] 47,248 5,302 47,806 226.05 97,000
2017[114] 51,048 2,002 46,521 280.65 100,000
2018[115] 53,762 5,046 44,876 261.84[116] 105,000
2019[98] 59,812 6,230 47,528 389.38[99] 110,000
2020[117] 65,398 6,833 50,710 354.98[118] 114,000
2021[119] 67,044 6,315 50,873 355.41[120] 114,000
2022[121] 65,984 5,732 52,880 486.49[122] 116,000
2023[1] 67,571 6,920 52,456 453.24[123] 122,000

Carbon footprint

[edit]

Lockheed Martin Corporation reported Total CO₂e emissions (Direct + Indirect) for the twelve months ending 31 December 2020 at 919 Kt (-49 /-5.1% y-o-y).[124]

Lockheed Martin Corporation's annual Total CO₂e Emissions – Location-Based Scope 1 + Scope 2 (in kilotonnes)[124]
Dec 2016 Dec 2017 Dec 2018 Dec 2019 Dec 2020
1,109 1,037 965 968 919

Government contracts

[edit]

Lockheed Martin received $36 billion in government contracts in 2008 alone; more than any company in history. It does work for more than two dozen government agencies from the Department of Defense and the Department of Energy to the Department of Agriculture and the Environmental Protection Agency. It is involved in surveillance and information processing for the CIA, the FBI, the Internal Revenue Service (IRS), the National Security Agency (NSA), The Pentagon, the Census Bureau, and the Postal Service.[125]

In October 2013, Lockheed announced it expected to finalize a $2.2 billion contract with the United States Air Force for two advanced military communications satellites.[126]

Lockheed Martin has already begun to help the military transition to renewable energy sources with solar photovoltaic powered microgrids[127] and as the military aims to reach 25% renewable energy by 2025[128] in order to improve national security.[129]

Corruption investigations

[edit]

On March 3, 2012, the U.S. Department of Justice (DOJ) said that Lockheed Martin had agreed to settle allegations that the defense contractor had sold overpriced perishable tools used on many contracts. The DOJ said the allegations were based specifically on the subsidiary Tools & Metals Inc's inflation of costs between 1998 and 2005, which Lockheed Martin then passed on to the U.S. government under its contracts. Further, in March 2006, Todd B. Loftis, a former TMI president, was sentenced to 87 months in prison and ordered to pay a fine of $20 million following his guilty plea.[130]

On February 20, 2013, Lockheed Martin Corp complied with the United States District Court for the Southern District of New York, agreeing to pay a $19.5 million lawsuit to conclude a securities fraud class-action legal battle that had accused the company of deceiving shareholders in regards to expectations for the company's information technology division.[131]

On December 20, 2014, Lockheed Martin Integrated Systems agreed to settle a False Claims Act lawsuit paying $27.5 million to finalize allegations that it had knowingly overbilled taxpayers for work performed by company staff who did not hold the relevant essential qualifications for the contract.[132]

Organization

[edit]

Business areas

[edit]
The C-130 Hercules has been in production since the 1950s with the C-130J variant being produced now.
Submarine launch of a Lockheed UGM-133 Trident II SLBM

International operations

[edit]

Enterprise operations

[edit]

Wholly owned corporate subsidiaries

[edit]
  • ForwardEdge ASIC
  • Lockheed Martin Finance Corporation
  • LMC Properties

Joint ventures

[edit]

Divested

[edit]

Corporate governance

[edit]

Board of directors

[edit]

The board of directors consists of 14 members. As of February 2016, members include:[138]

Chief executive officer

[edit]

Chairman of the board

[edit]

Ownership

[edit]

As of December 2023, Lockheed Martin shares are mainly held by institutional investors (State Street Corporation, Vanguard group, BlackRock, Capital Group Companies, and others).[140]

Largest shareholders in December 2023
Shareholder Country Shares Percentage Value in thousands USD
State Street Corporation  United States 37,049,916 15.33% $16,113,379
The Vanguard Group  United States 22,099,137 9.15% $9,611,136
BlackRock Inc.  United States 18,158,813 7.51% $7,897,449
Charles Schwab Corporation  United States 5,637,923 2.33% $2,451,989
Morgan Stanley  United States 5,206,242 2.15% $2,264,247
Capital World Investors  United States 5,031,450 2.08% $2,188,228
Geode Capital Management, LLC  United States 4,559,183 1.89% $1,982,834
FMR, LLC  United States 4,351,452 1.80% $1,892,490
Bank of America  United States 3,209,854 1.33% $1,395,998
Wellington Management Company  United States 2,807,469 1.16% $1,220,996
Total 179,583,655 100%

Criticism

[edit]

Lockheed Martin is listed as the largest U.S. government contractor and ranks first for the number of incidents, and fifth for the size of settlements on the 'contractor misconduct' database maintained by the Project on Government Oversight, a Washington, D.C.-based watchdog group. Since 1995, the company has agreed to pay $676.8 million to settle 88 instances of misconduct.[141]

In 2013, Lt. Gen. Christopher Bogdan criticized the company's F-35 fighter program. The general said: "I want them both to start behaving like they want to be around for 40 years ... I want them to take on some of the risk of this program. I want them to invest in cost reductions. I want them to do the things that will build a better relationship. I'm not getting all that love yet."[142] The criticism came in the wake of previous criticism from former Defense Secretary Robert Gates regarding the same program.[143]

Lobbying

[edit]

According to the magazine Politico, Lockheed Martin has "a political network that is already the envy of its competitors", and its contracts enjoy wide bipartisan support in the U.S. Congress thanks to it having "perfected the strategy of spreading jobs on weapons programs in key states and congressional districts".[144] The company's 2022 lobbying expenditure is $13.6 million (2009 total: $13.7 million).[145][146]

Through its political action committee (PAC), the company provides low levels of financial support to candidates who advocate national defense and relevant business issues.[147] It was the largest contributor to the House Armed Services Committee chairman, Republican Buck McKeon of California with over $50,000 donated in the election cycle as of January 2011. It also was the top donor to Sen. Daniel Inouye (D-HI), the chair of the Senate Appropriations Committee before his death in 2012.[125]

Lockheed Martin Employees Political Action Committee is one of the 50 largest in the country, according to FEC data. With contributions from 3,000 employees, it donates $500,000 a year to about 260 House and Senate candidates.[148][needs update]

Management

[edit]

Senior management consists of the CEO, CFO, and Executive Vice Presidents (EVPs) of four business areas.[149][150] The EVPs are responsible for managing major programs.[citation needed]

On March 16, 2020, Lockheed announced that CEO Marillyn Hewson would become executive chair and be succeeded as CEO by James Taiclet on June 15; Taiclet was at the time the head of American Tower, and had previously been the president of Honeywell Aerospace and before that a VP at United Technologies. Lockheed also announced that it would create the chief operating officer role, to which current EVP Frank A. St John would be promoted.[151]

Employees in each program are organized into four tiers: Tier1 –Program Manager/VP, Tier2-Functional Teams (Finance, Chief Engineer, Quality, Operations, etc.), Tier3-Integrated Product Teams (IPTs) (Weapon System Development, Weapon System Integration, etc.), and Tier4-detailed product development. Floor or touch workers belong to component assembly teams.[152] Lockheed Martin manages and maintains its relationship with these touch workers through its supervisors and unions.[153]

Lockheed Martin manages employees through its Full Spectrum Leadership and LM21 programs.[154] The LM21 program relies on Six Sigma principles, which are techniques to improve efficiency. Senior management constructs leadership councils and assigns managers to facilitate Kaizen events, which target specific processes for improvement. A manager facilitates teams and processes stakeholders and suppliers to streamline process implementation.[155][156][152]

Tier2 Functional Leads and Tier3 IPT Leads report to Tier1. IPT leads are responsible for entire systems or products defined by the contract's Statement of Work.[152]

To control quality, Lockheed Martin trains and builds IPT teams.[152] and ensures that work is executed correctly through a Technical Performance Measure (TPM) system which emphasizes its Lean and 6 Sigma processes. Middle management uses commitment mechanisms that parallel high commitment and human relations theory.[157]

Floor employees assemble aircraft using Flow-to-takt lean manufacturing process[158] which uses properties from both division of labor and scientific management. By separating tasks based on parts, Lockheed Martin utilizes the division of labor theory,[159] specialization on a specific area creates efficiency.[citation needed]

Double Helix methodology

[edit]

The "Double Helix methodology" is a systems development methodology used by Lockheed Martin. It combines experimentation, technology, and a warfighter's concept of operations to create new tactics and weapons.[160]

See also

[edit]

References

[edit]
  1. ^ a b "US SEC: Form 10-K Lockheed Martin Corporation". United States Securities and Exchange Commission. January 23, 2024.
  2. ^ "Lockheed Martin (NYSE:LMT) | Subsidiaries & Locations". AeroWeb. Barr Group Aerospace. Archived from the original on January 4, 2015. Retrieved November 15, 2013.
  3. ^ "CEO Speaker Series with James Taiclet of Lockheed Martin". Council on Foreign Relations. January 26, 2022. Retrieved January 30, 2022.
  4. ^ "What You Need to Know Ahead of Lockheed Martin's Earnings Release". October 1, 2024.
  5. ^ POC Top 20 Defence Contractors of 2014 Archived July 7, 2015, at the Wayback Machine. Retrieved: July 2015
  6. ^ DefenseIQ Top 10 defence companies in the world, 2013. Retrieved: July 6, 2015.
  7. ^ "Top 100 Contractors Report Fiscal Year 2013" (XLS). Federal Procurement Data System – Next Generation. General Services Administration. Retrieved January 2, 2015.
  8. ^ "2009 Annual Report" (PDF). LockheedMartin.com. Archived from the original (PDF) on October 17, 2012. Retrieved January 4, 2011.
  9. ^ "Lockheed Martin Corporation | American corporation". Encyclopedia Britannica. Retrieved March 27, 2020.
  10. ^ "Business Areas". Lockheed Martin. March 11, 2021.
  11. ^ Propulsion System in Lockheed Martin Joint Strike Fighter wins Collier Trophy Archived January 3, 2013, at the Wayback Machine Lockheed Martin press release, February 28, 2003. Retrieved: January 2010
  12. ^ "Propulsion system for a vertical and short takeoff and landing aircraft" (PDF). 1990. United States Patent 5209428 (pdf of original)
  13. ^ Collier Trophy; list of winners. Retrieved January 2010
  14. ^ Space Fence: Lockheed Martin Archived July 9, 2015, at the Wayback Machine, 2015. Retrieved: July 7, 2015.
  15. ^ Orion: Lockheed Martin Archived July 9, 2015, at the Wayback Machine, 2015. Retrieved: July 7, 2015.
  16. ^ CNF: Lockheed Martin, 2015. Retrieved: July 8, 2015
  17. ^ Gaughan, Patrick A. (2011). Mergers, Acquisitions, and Corporate Restructurings (5th ed.). Hoboken, NJ: John Wiley & Sons. p. 114. ISBN 978-0-470-56196-6.
  18. ^ Lynch, Jack (August 30, 1994). "Lockheed and Martin Marietta Set to Merge in $10 Billion Deal". The New York Times. ISSN 0362-4331. Retrieved July 20, 2023.
  19. ^ Norris, Floyd (August 31, 1994). "A 'merger of equals,' with Martin Marietta the most equal". The New York Times.
  20. ^ "Martin Marietta-Lockheed merger is approved". The New York Times. March 16, 1995.
  21. ^ Diamond, John. "Audit Recommends Slashing Pentagon Incentive Pay for Defense Execs". AP NEWS. Retrieved April 24, 2019.
  22. ^ Mintz, John (April 23, 1996). "Lockheed-Martin Loral Merger May Mean a Loss of Business; McDonnell Douglas Threatens to Cancel Billions in Contracts". The Washington Post.
  23. ^ Wayne, Leslie (July 17, 1998). "Lockheed cancels Northrop merger, citing U.S. stand". The New York Times.
  24. ^ "Metric mishap caused loss of NASA orbiter". CNN. September 30, 1999.
  25. ^ "Math error equals loss of Mars orbiter". Science News. October 9, 1999. Archived from the original on September 4, 2004.
  26. ^ "When Software Catastrophe Strikes". Bloomberg News. August 7, 2012.
  27. ^ "Remembering the time NASA lost a $193 million spacecraft due to a math mixup". Arizona Daily Star. March 4, 2022.
  28. ^ "Peacetime Programmers". Electronic Gaming Monthly. No. 97. Ziff Davis. August 1997. pp. 66–67.
  29. ^ Lorell, Mark A.; Lowell, Julia F.; Moore, Richard M.; Greenfield, Victoria A.; Vlachos, Katia (2002). Going Global?: U.S. Government Policy and the Defense Aerospace Industry. Santa Monica, CA: Rand Corporation. p. 129. ISBN 0-8330-3193-7.
  30. ^ "Contract for BAE". The Times. Times Newspapers. November 28, 2000.
  31. ^ Parreault, Carl (July 14, 2004). "British aerospace firm buys Sanders". The Union Leader.
  32. ^ LOCKHEED MARTIN PAYS NASA $7.1 MILLION SETTLEMENT Archived May 31, 2009, at the Wayback Machine. U.S. Department of Justice, United States Attorney Press Release, July 10, 2003.
  33. ^ Dutt, Jill. "Taking an Engineer's Approach at Lockheed Martin." Washington Post, May 1, 2006.
  34. ^ Spires, Shelby (April 28, 2009). "NASA slashes Orion Crew Exploration Vehicle crew size to four". al.com. Alabama Media Group. Retrieved October 10, 2013.
  35. ^ Norton, Frank; LaGrone, Sam (August 21, 2007). "Aircraft Maker Buys 3Dsolv e". The News and Observer. pp. D1. Retrieved February 28, 2022 – via Newspapers.com.
  36. ^ Norton, Frank; LaGrone, Sam (August 21, 2007). "Aircraft Maker Buys 3Dsolve". The News and Observer. pp. D3. Retrieved February 28, 2022 – via Newspapers.com.
  37. ^ "Lockheed Martin 3D Solutions in Cary, NC – (919) 469-9950". www.chamberofcommerce.com. Retrieved February 28, 2022.
  38. ^ "Lockheed Martin Corporation 2013 Annual Report" (PDF). lockheedmartin.com. Archived from the original (PDF) on March 23, 2014. Retrieved March 23, 2014.
  39. ^ "Lockheed Martin Acquires Nantero, Inc.'s Government Business Unit". Taume News. August 14, 2008. Archived from the original on December 2, 2008. Retrieved August 14, 2008.
  40. ^ "UNITECH acquired by Lockheed Martin". UPI.com. United Press International, Inc. Retrieved October 11, 2013.
  41. ^ Hult, Karla. "Lockheed Martin to Close Eagan Plant, Shed 1,000 Jobs." Kare 11 News, November 19, 2010.
  42. ^ "Lockheed to pay $2 million to settle lawsuit". The Washington Post. Bloomberg News. January 25, 2011. ISSN 0190-8286. Retrieved January 24, 2023.
  43. ^ "Press Releases – D-Wave Systems". Archived from the original on December 22, 2020. Retrieved December 14, 2013.
  44. ^ "Lockheed Martin Hit by Unspecified Cyber Incident". Fox News. May 28, 2011.
  45. ^ "Pentagon to Consider Cyberattacks Acts of War". The New York Times. June 1, 2011.
  46. ^ "Lockheed Martin cuts 740 jobs". The Indian Express. July 11, 2012. Retrieved July 11, 2012.
  47. ^ "Lockheed Martin raises compensation of CEO-elect Hewson". Chicago Tribune. November 27, 2012.
  48. ^ "Dreamhammer Hammers Out Deal With Lockheed Martin". socalTECH.com. SOCALTECH LLC. Retrieved October 2, 2013.
  49. ^ "Bell Helicopter and Lockheed Martin team on V-280 Valor" AirFramer, September 9, 2013. Accessed: September 9, 2013.
  50. ^ Andrea Shalal-Esa (September 11, 2013). "Lockheed acquires Amor group as part of global expansion plan". Reuters. Archived from the original on September 24, 2015. Retrieved July 1, 2017.
  51. ^ Chris Horne (November 14, 2013). "Lockheed Martin laying off hundreds, closing Akron facility". Scripps Media, Inc. Archived from the original on November 23, 2013. Retrieved November 14, 2013.
  52. ^ "Lockheed Martin Acquires BEONTRA AG". PR Newswire. March 18, 2014.
  53. ^ "Lockheed Martin To Acquire Industrial Defender". Lockheed Martin. March 12, 2014. Archived from the original on December 22, 2015. Retrieved December 11, 2015.
  54. ^ Sherman, Erik (June 3, 2014). "Lockheed wins $915 million "space fence" contract". CBS News. Retrieved June 6, 2014.
  55. ^ Thompson, Loren. "Lockheed Martin Announces Sikorsky Purchase And Strategic Review Of Services Portfolio". Forbes.
  56. ^ "Lockheed Martin takes the plunge with $9bn Sikorsky deal". July 20, 2015.
  57. ^ "Rotor & Wing". aviationtoday.com. Archived from the original on February 6, 2016. Retrieved October 4, 2015.
  58. ^ "Lockheed Martin receives final regulatory approval needed to close Sikorsky acquisition – Vertical Magazine".
  59. ^ "Lockheed finalizes $9B purchase of helicopter maker Sikorsky". NZ Herald. Retrieved November 7, 2015.
  60. ^ "Lockheed Martin Completes Acquisition of Sikorsky Aircraft". lockheedmartin.com. Retrieved November 19, 2015.
  61. ^ Warwick, Graham. "Lockheed Martin’s Hybrid Wing-Body Future Airlifter"
  62. ^ "Flurry of Contracts Spark US Navy Shipbuilding". April 3, 2015. Retrieved August 9, 2016.
  63. ^ "Lockheed Martin wins $867 million deal for Australian pilot training". Reuters. December 11, 2015.
  64. ^ "The latest update on defence contracts awarded". August 11, 2016. Retrieved August 11, 2016.
  65. ^ "Leidos Deal Closes, Spawning Vast Solutions Enterprise". Forbes. Retrieved August 23, 2016.
  66. ^ "Leidos Holdings". Fortune. Archived from the original on August 31, 2019. Retrieved September 18, 2022.
  67. ^ "Guide to $400 Billion in Saudi-U.S. Deals: Black Hawks to Oil". Bloomberg. May 22, 2017.
  68. ^ Macias, Amanda (August 14, 2018). "Lockheed Martin gets a second hypersonic weapons contract, this time for $480 million, as the US tries to keep pace with Russia and China". CNBC.
  69. ^ Macias, Amanda (April 18, 2018). "Lockheed Martin just got one step closer to handing hypersonic weapons to the US Air Force". CNBC.
  70. ^ "NASA Announces New Partnerships for Commercial Lunar Payload Delivery Services". NASA. November 29, 2018. Retrieved November 29, 2018.
  71. ^ [1]. Marcia Dunn, The Associated Press; Published by The Denver post. November 30, 2018.
  72. ^ Lockheed Martin Selected for NASA's Commercial Lunar Lander Payload Services Contract Archived December 15, 2018, at the Wayback Machine. Yahoo Finance. November 29, 2018.
  73. ^ "SpaceX Delays Falcon Heavy's First Commercial Launch of ArabSat-6A to 10 April". The First Post. April 9, 2019. Retrieved April 28, 2019.
  74. ^ "NASA taps Lockheed Martin to build six more Orion crew capsules – Spaceflight Now". Retrieved April 5, 2020.
  75. ^ "Lockheed Martin Wins $138M Navy Deal to Support AEGIS CSEA". finance.yahoo.com. January 3, 2020.
  76. ^ Garnier, Terace (January 31, 2020). "Pentagon Finds Over 800 Defects In Lockheed Fighter Jets". Newsy. Archived from the original on October 25, 2020. Retrieved February 5, 2020.
  77. ^ "Lockheed to obtain Vector satellite assets". SpaceNews. February 24, 2020. Retrieved February 25, 2020.
  78. ^ "Lockheed Martin Buys Assets from Bankrupt Startup Vector Launch". Bloomberg Law.
  79. ^ Martin, Lockheed. "Lockheed Martin Elects James D. Taiclet as President and CEO". www.prnewswire.com (Press release). Retrieved August 11, 2024.
  80. ^ "Taiclet adding chairman to his title at Lockheed Martin". January 29, 2021.
  81. ^ "Lockheed makes a solid rocket motor splash, buying Aerojet Rocketdyne for $4.4B". Retrieved December 21, 2020.
  82. ^ "Lockheed predicts Aerojet acquisition will close next quarter". Defense News. October 26, 2021. Retrieved December 22, 2021 – via Yahoo! News.
  83. ^ Johnsson, Julie (February 13, 2022). "Lockheed Scraps Aerojet Deal After FTC Takes Tough Merger Stance". MSN.
  84. ^ Saligrama, Anirudh; Bartz, Diane (February 13, 2022). "Lockheed scraps $4.4 billion deal to buy Aerojet amid regulatory roadblocks". Reuters.
  85. ^ McIntyre, Douglas (March 2, 2023). "Lockheed Martin Profits More From War Than Any Other Company on Earth". 24/7 Wall St.
  86. ^ Bedi, Rahul (February 28, 2022). "Russia's Invasion of Ukraine Bodes Good Business for Arms Manufacturers Worldwide". The Wire. Archived from the original on March 2, 2022.
  87. ^ "Ukraine war: How weapons makers are profiting from the conflict". Sky News. June 10, 2022.
  88. ^ "As the war rages on and military spending booms, the US arms industry is a big winner in Ukraine". ABC News. January 20, 2023.
  89. ^ Kumar, Kavita (May 23, 2023). "Lockheed Martin design center coming to St. Paul, bringing more than 100 jobs". Star Tribune. Archived from the original on June 6, 2023.
  90. ^ Fedor, Liz (May 24, 2023). "Lockheed Martin Chooses St. Paul for a Business Expansion". Twin Cities Business.
  91. ^ "Lockheed Martin: Palestine protesters install blockade". BBC News. November 25, 2023.
  92. ^ "Anti-war protesters block access to Lockheed Martin subsidiary in St. Paul". MPR News. November 10, 2023.
  93. ^ "Protesters Are Targeting Defense Contractors That Bragged About Profits from Gaza". Vice. November 17, 2023.
  94. ^ Sheetz, Michael (March 1, 2024). "Lockheed Martin looks to acquire spacecraft maker Terran Orbital for nearly $600 million". CNBC. Retrieved March 4, 2024.
  95. ^ "US army awards Lockheed Martin $4.5 billion multi-year Patriot Missiles contract". June 28, 2024. Retrieved July 1, 2024.
  96. ^ Stone, Mike (October 9, 2024). "Lockheed names new F-35 fighter jet program leader". Reuters. Retrieved October 13, 2024.
  97. ^ a b "Lockheed Martin Corporation: Shareholders Board Members Managers and Company Profile | US5398301094 | MarketScreener". www.marketscreener.com. Retrieved March 24, 2024.
  98. ^ a b "0000936468-20-000016 | 10-K". Lockheed Martin Corp. Archived from the original on June 17, 2020. Retrieved February 8, 2020.
  99. ^ a b "Historical Price Lookup". Lockheed Martin Corp. Archived from the original on November 24, 2020. Retrieved February 8, 2020.
  100. ^ "Koyfin | Advanced graphing and analytical tools for investors". koyfin.com.
  101. ^ "Lockheed Martin". Fortune. Archived from the original on September 17, 2020. Retrieved February 8, 2020.
  102. ^ "2005 Annual Report" (PDF).
  103. ^ "2006 Annual Report" (PDF).
  104. ^ "2007 Annual Report" (PDF).
  105. ^ "2008 Annual Report" (PDF).
  106. ^ "2009 Annual Report" (PDF).
  107. ^ "2010 Annual Report" (PDF).
  108. ^ "2011 Annual Report" (PDF).
  109. ^ "2012 Annual Report" (PDF).
  110. ^ "2013 Annual Report" (PDF).
  111. ^ "2014 Annual Report" (PDF).
  112. ^ "2015 Annual Report" (PDF).
  113. ^ "2016 Annual Report" (PDF).
  114. ^ "2017 Annual Report" (PDF). Archived from the original (PDF) on November 25, 2018.
  115. ^ "2018 Annual Report" (PDF).
  116. ^ "Historical Price Lookup for December 31, 2018". Archived from the original on January 17, 2021. Retrieved February 8, 2020.
  117. ^ "2020 Annual Report" (PDF). Lockheed Martin. Retrieved October 2, 2021.
  118. ^ "Historical Price Lookup for December 31, 2020". Lockheed Martin. Archived from the original on July 27, 2021. Retrieved October 2, 2021.
  119. ^ "US SEC: Form 10-K Lockheed Martin Corporation". United States Securities and Exchange Commission. January 25, 2022.
  120. ^ "Historical Price Lookup for December 31, 2021". Lockheed Martin. Archived from the original on April 16, 2023. Retrieved May 2, 2022.
  121. ^ "US SEC: Form 10-K Lockheed Martin Corporation". United States Securities and Exchange Commission. January 26, 2023.
  122. ^ "Historical Price Lookup for December 31, 2022". Lockheed Martin. Archived from the original on January 30, 2023. Retrieved January 29, 2023.
  123. ^ "Historical Price Lookup for Week of December 26, 2023". Lockheed Martin. Archived from the original on January 27, 2024. Retrieved January 27, 2024.
  124. ^ a b "Lockheed Martin Corporation's ESG Datasheet for 2020Q4" (PDF). Archived (PDF) from the original on November 2, 2021. Retrieved November 9, 2021. Alt URL[permanent dead link]
  125. ^ a b Hartung, William (January 12, 2011) "Is Lockheed Martin Shadowing You?". Mother Jones
  126. ^ Andrea Shalal-Esa (October 9, 2013). "Lockheed, U.S. Air Force near $2.2 billion satellites deal". Reuters. Archived from the original on October 5, 2015. Retrieved July 1, 2017.
  127. ^ "U.S. Army and Lockheed Martin Commission Microgrid at Fort Bliss". Lockheed Martin.
  128. ^ "Army, Navy and Air Force on Track to Reach 3 GW of Solar by 2025". Greentech Media. May 17, 2013.
  129. ^ Emily W. Prehoda, et al. 2017. U.S. Strategic Solar Photovoltaic-Powered Microgrid Deployment for Enhanced National Security. Renewable & Sustainable Energy Reviews 78, 167–175. doi:10.1016/j.rser.2017.04.094
  130. ^ Seper, Jerry (March 23, 2012). "Lockheed Martin to pay back government for subcontractor scheme". Washington Times. Retrieved July 4, 2015.
  131. ^ Raymond, Nate (February 20, 2013). "Lockheed to settle securities fraud suit for $19.5 million". Reuters. Archived from the original on September 24, 2015. Retrieved July 4, 2015.
  132. ^ "US Senate Recent Examples of Contractor Fraud and Misconduct" (PDF). Archived from the original (PDF) on May 21, 2015.
  133. ^ Lockheed Martin Aeronautics website[2] "Lockheed Martin Aeronautics, home of the world renowned Skunk Works..." [Retrieved May 29, 2023]
  134. ^ [3]LM EO webpage
  135. ^ official site ds2.com
  136. ^ "PAE Company Overview" (PDF). pae.com. p. 5. Archived from the original (PDF) on April 2, 2015. Retrieved March 28, 2015.
  137. ^ [4]2016 CAE Acquisition Announcement
  138. ^ "Board of Directors · Lockheed Martin". lockheedmartin.com. Retrieved September 17, 2020.
  139. ^ "Lockheed Martin Board Elects James D. Taiclet As Chairman...". Lockheed Martin, January 29, 2021.
  140. ^ "Lockheed Martin Corporation (LMT) Ownership Summary". NASDAQ.com. March 31, 2020. Retrieved May 27, 2020.
  141. ^ "Federal Contractor Misconduct Database". Project on Government Oversight. Archived from the original on May 8, 2011. Retrieved January 15, 2014.
  142. ^ Drew, Christopher (February 27, 2013). "Lockheed Criticized by F-35 Jet Program Chief". The New York Times.
  143. ^ Bob Cox (February 3, 2010). "Lockheed Martin downplays Gates' criticism of F-35 program". The Fort Worth Star-Telegram. Archived from the original on May 14, 2013. Retrieved September 13, 2013.
  144. ^ Munsil, Leigh; Wright, Austin (August 12, 2015). "Is Lockheed Martin too big to fail? Lockheed has made itself dominant on Capitol Hill – with defense jobs in virtually every state". Politico. Retrieved August 12, 2015.
  145. ^ "Lockheed Martin Profile: Summary". OpenSecrets. Retrieved November 24, 2023.
  146. ^ "Lobbying Disclosure Act Database". United States Senate. Archived from the original on December 31, 2010. Retrieved January 5, 2011.
  147. ^ "Political Disclosures". LockheedMartin.com. Archived from the original on January 21, 2011. Retrieved January 4, 2011.
  148. ^ "CorpWatch: US: Lockheed Martin Lobby Group Audited". Archived from the original on June 20, 2010. Retrieved June 29, 2010.
  149. ^ "Executive Leadership". Lockheed Martin. September 23, 2021. Retrieved October 2, 2021.
  150. ^ "Our Businesses". Lockheed Martin. March 11, 2021. Retrieved October 2, 2021.
  151. ^ Etherington, Darrell (March 16, 2020). "Lockheed Martin CEO Marilyn Hewson to be succeeded by board member James Taiclet". TechCrunch.com.
  152. ^ a b c d Cox, James D. (July 26–28, 1993). Organizational Challenges in the Integrated Product Team Implementation (PDF) (Report). Arlington, Virginia: Proceedings of the Third Annual International Symposium of the National Council on Systems Engineering.[permanent dead link]
  153. ^ "Job search-Labor Relations Representative in Marietta Georgia United States". LockheedMartin.com.[permanent dead link]
  154. ^ "Full Spectrum Leadership". Lockheed Martin. Retrieved October 5, 2012.
  155. ^ Joyce, Michael; Schechter, Bettina (2004). "The Lean Enterprise- A Management Philosophy at Lockheed Martin". Defense Acquisition Review Journal: 173–181. Archived from the original on April 13, 2013. Retrieved October 19, 2012.
  156. ^ Mayo, E. (1949). "Hawthorne and the Western Electric Company". The Social Problems of an Industrial Civilization (PDF). Routledge. pp. 60–76. Retrieved October 19, 2012.[dead link]
  157. ^ Walton, Richard E. (March–April 1985). "From Control to Commitment in the Workplace". Harvard Business Review: 77–84.
  158. ^ "The Factory Flow, Assembling Major Components". F35.com. Archived from the original on August 1, 2012. Retrieved October 5, 2012.
  159. ^ Frank Dobbins Lecture, September 10, 2012 Harvard University
  160. ^ "The Right Technology for Tomorrow – Today". Tech Briefs. Lockheed Martin. October 24, 2008. Archived from the original on September 4, 2011. Retrieved November 25, 2010.

Further reading

[edit]
[edit]
Wikimedia Commons has media related to Lockheed Martin.
  • Official website Edit this at Wikidata
  • Business data for Lockheed Martin:
  • Lockheed Martin Corporation recipient profile on USAspending.gov
  • FAS, history and key dates
  • Lockheed Martin at SourceWatch
  • "Patents owned by Lockheed Martin". US Patent & Trademark Office. Archived from the original on May 9, 2017. Retrieved December 5, 2005.
Retrieved from "https://wiki.riteme.site/w/index.php?title=Lockheed_Martin&oldid=1256474245"